Imagine You Are Creating a New Product to Sell in an Up-And-Coming

question 47

Multiple Choice

Imagine you are creating a new product to sell in an up-and-coming market.Which of the following statements indicates that it would be easy for you as the new entrant to compete in this market?

• A)The threat of new entrants force is high in the up-and-coming market.
• B)The threat of new entrants force is low in the up-and-coming market.
• C)The threat of new entrants force is impossible to define in the up-and-coming market.
• D)All of these are correct, depending on the time of year.

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Definitions:

Management by Objectives

Management by objectives is a strategic management model where goals are defined for each employee and performance is assessed based on these goals.

Economic Order Quantity

A formula used to determine the optimal order size that minimizes the total costs of holding inventory and placing orders.

Fixed Quantity Inventory

An inventory management system where stock levels are replenished to a set quantity at regular intervals or when reaching a minimum level.

Inventory Control Number

A unique identifier assigned to each item in inventory for the purpose of tracking and management.