The Probability of Exporting Successfully Can Be Increased Dramatically by Utilising

question 29

Multiple Choice

The probability of exporting successfully can be increased dramatically by utilising all of the following steps,except:

• A)hire an EMC,or at least an export consultant,and initially focus on one market.
• B)enter the market on a small scale initially,and recognise the time and managerial commitments involved.
• C)devote a lot of attention to building relationships with distributors and hire local personnel.
• D)be proactive to business opportunities and reactive to market threats that may arise.

Understand the sourcing and procurement functions within an organization.

Know the impact of managing inventory and logistics on customer satisfaction.

Distinguish the roles and responsibilities of purchasing managers, including supplier selection and performance management.

Comprehend different types of inventory costs and their implications on business operations.

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Definitions:

Deposit

A sum of money placed in an account or given as security for a financial transaction or agreement.

Checking Account

A bank account that allows the holder to write checks, use electronic debit, and make deposits, meant for frequent transactions.

Improperly Dishonors

Refers to the situation where a financial institution wrongfully refuses to accept a valid check or draft presented for payment.

Drawer

In banking, the person who writes or creates a check or draft instructing the bank to pay the stated amount to a third party.