Match the Following Terms to the Appropriate Definitions

question 88

Multiple Choice

Match the following terms to the appropriate definitions.

-An idea that means that employees understand the changing needs and wants of their customers and align their management and operating practices accordingly.

• A)Managerial accounting
• B)Continuous improvement
• C)Raw materials inventory
• D)Customer orientation
• E)Just-in-time manufacturing
• F)Goods in process inventory
• G)Lean business model
• H)Balanced scorecard
• I)Prime costs
• J)Raw materials inventory turnover

Identify the potential drawbacks and challenges businesses face when using social media.

Grasp the significance of honesty and transparency in social media interactions.

Recognize the wide-reaching potential audience of social media messages.

Understand best practices for communicating and promoting products or services via social media.

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Definitions:

Interconnected

Entities or systems that are linked together in a way that they affect or influence each other.

Global Marketing Strategy

A marketing approach that considers global operational differences, similarities, and opportunities in planning marketing activities.

International Trade Agreement

A treaty or accord between countries that governs the rules and guidelines for trade between the signatories.

Supply Chain

The entire process of making and selling commercial goods, including raw material gathering, manufacture, distribution, and sale.