Complete the Following Using These Terms

question 16

Multiple Choice

Complete the following using these terms.
-To operate effectively,certain inputs called _____ are required for all economic systems.

• A)outsourcing
• B)Diversity
• C)entrepreneur
• D)Competitive differentiation
• E)strategic alliance
• F)Capital
• G)vision
• H)factors of production
• I)brand
• J)Relationship management
• K)Not-for-profit organizations
• L)Business ethics

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Definitions:

Core Competency

Fundamental strength or advantage that a business possesses, central to its operations and critical to its long-term success.

Key Success Factors

Critical elements or factors required for an organization to achieve its business goals and objectives.

Competitive Advantage

The attributes that allow an organization to outperform its competitors, including cost structure, product offerings, market position, and customer service.

Maquiladora

A factory in Mexico run by a foreign company and exporting its products to the country of that company, benefiting from lower labor costs and favorable trade agreements.