Bringing a Function or Technology Within the Boundary of the Firm

question 13

Multiple Choice

Bringing a function or technology within the boundary of the firm is:

• A) Valence
• B) Vertical integration
• C) Supply chain management
• D) Company orientation
• E) Formalization

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Definitions:

ISO 9000

A set of international standards for quality management and quality assurance designed to help companies meet regulatory requirements and satisfy customer needs.

Perceptual Benefits

Advantages perceived by consumers that may not be tangible but influence the decision to purchase a product, based on perceptions of value, brand, and quality.

Functional

Designed to be practical and useful, focusing on what something does or how it works rather than how it looks.

Communication Benefits

The advantages gained from effective communication, including improved understanding, increased efficiency, and better relationships.