Jonathan Has Graduated and Wants to Start a Business

question 28

Multiple Choice

Jonathan has graduated and wants to start a business. Which business entity gives him the most complete and exclusive control over the business and any business decisions?

• A) sole proprietorship
• B) limited liability company
• C) corporation
• D) general partnership

Acknowledge the role of integration and collaboration tools in SCM, such as EDI, XML, and intranets.

Understand the implications of inventory velocity on customer satisfaction and supply chain performance.

Understand the various types of CRM applications and their functionalities.

Describe how CRM systems enhance business intelligence through customer behavior analysis.

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Definitions:

Indirect Activity

Activities that support the production process but do not directly contribute to the final product or service.

Human Resources

The department within an organization dealing with the recruitment, administration, and training of employees, as well as other personnel-related activities.

Value Chain

A series of activities and processes that a company performs to bring a product or service from conception to delivery to the end consumer, adding value at each step.

New Product Development

The process of bringing a new product or service to the market, from idea generation to commercialization.