Before You Think About Technological Solutions to Business Problems or Opportunities

question 72

Multiple Choice

Before you think about technological solutions to business problems or opportunities enhanced by technology, what should you have?

• A) A strong understanding of your target customers
• B) An infrastructure that can support technological enhancements
• C) Financial backing
• D) An understanding of customers, supporting infrastructure, and financial backing

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Definitions:

Basic Infrastructure

Fundamental facilities and systems serving a country, city, or area, including transportation and communication systems, power plants, and schools.

Power Generation

The process of producing electricity through various means like fossil fuels, nuclear power, or renewable resources.

Import Substitution Strategy

An economic policy aimed at reducing foreign dependency by encouraging local production of industrialized products.

Comparative Advantage

The advantage in the production of a good enjoyed by one country over another when that good can be produced at lower cost in terms of other goods than it could be in the other country.