Companies Benefit Today from Interfirm Cooperation

question 68

Multiple Choice

Companies benefit today from interfirm cooperation. One of the ways they cooperate is through networking. Another way is by seeking technological knowledge and learning new processes from exemplary firms sometimes outside their own industries. We call this:

• A) competency capturing.
• B) technology swapping.
• C) benchmarking.
• D) broadening the knowledge base.

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Definitions:

Empowers Customers

The process of giving customers control and information to make informed decisions, often leading to enhanced satisfaction and engagement with a product or service.

Social Marketing

The use of marketing principles and techniques to influence behavior change for a social good.

Ethical

Pertains to moral principles that govern a person's behavior or the conducting of an activity, especially concerning right and wrong.

Particular Things

Specific items or matters that are distinguished by their unique characteristics or attributes.