An Organization Must Identify What It Wants to Do and How

question 92

Multiple Choice

An organization must identify what it wants to do and how it is going to do it. What does the "what" part of this question focus on?

• A) Justification of the project
• B) Definition of the project
• C) Expected results of the project
• D) All of these

---

Definitions:

Barriers to Entry

Obstacles that make it difficult for new competitors to enter a market, including high start-up costs, strict regulations, and established brand loyalty.

Differentiated Products

Differentiated products are goods or services that differ from other products in the market in terms of quality, features, branding, or other attributes that are valued by consumers.

Standardized Products

Goods and services that are uniform in quality and performance, produced in large quantities, and often interchangeable.

Monopolistically Competitive

describes a market structure where many firms sell products that are similar but not identical, leading to non-price competition.