A Manufacturing Company That Has Been in Business for Several

question 62

Multiple Choice

A manufacturing company that has been in business for several years decided to discontinue production of some of their low-selling products and focus on their areas of expertise.The company innovated a new product with unique value.This is an example of using

• A)competitive advantage.
• B)core competency.
• C)empowerment.
• D)management skills.
• E)management strategies.

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Definitions:

SMART Goals

Objectives that are Specific, Measurable, Achievable, Relevant, and Time-bound, enhancing the likelihood of success.

Vicarious Experience

Learning or feeling an emotional response through the experiences of another rather than firsthand.

Self-efficacy

A belief in one's own ability to successfully accomplish tasks and reach goals, often influencing how one approaches challenges and tasks.

Direct Experience

Learning or knowledge gained through firsthand observation or participation, as opposed to theoretical or indirect methods.