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Distinguish Between the Terms Outsourcing and Downsizing and Explain When

question 178

Essay

Distinguish between the terms outsourcing and downsizing and explain when each may be used in the organization.


Definitions:

Total Budget Competitor

An entity in the market that directs its entire budget towards strategies aimed at outperforming competitors in certain areas.

Product Competitor

A product competitor refers to another product in the marketplace that meets the same consumer need or desire as the company's own product.

Brand Competitor

Other brands that offer similar products or services in the same category, vying for the same customer base.

Primary Data

Information that is collected directly by the researcher or organization for a specific research purpose or project.

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