The Distinctive Competencies of Small Business Usually Fall into Three

question 64

Short Answer

The distinctive competencies of small business usually fall into three areas: the ability to identify new niches in established markets,the ability to identify new markets,and the ability to move ____________________.

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Definitions:

Production Labor Wages

The total amount of compensation paid to employees directly involved in the production of goods or services.

Direct Cost

Costs that can be directly attributed to the production of a specific good or service, such as raw materials and labor directly involved in manufacturing.

Indirect Cost

Expenses that are not directly attributable to a specific product or service, often including overhead costs like utilities or rent.

Administrative Office Salaries

The wages and salaries paid to employees who work in administrative roles within an organization.