Refer to the Scenario Below to Answer the Following Questions

question 103

Multiple Choice

Refer to the scenario below to answer the following questions.
A New Subsidiary (Scenario)
Philip works for a large multinational corporation with offices in 23 countries, 64,000 employees worldwide, and $8 billion in annual sales. The company was involved in several different industries: automotive parts, rapid transit systems, and recreational vehicles. Philip is the executive vice-president of new technology ventures.
Philip wants you to investigate and potentially launch a business focusing on alternative energy systems. The first area you are to explore is the potential business opportunity of ocean tidal energy. You are to explore what technology already exists that can be exploited, what additional technology development is needed, and figure out the viability of the tidal energy as an entrepreneurial venture.
-The idea for the marine tidal energy is not brand new, and the technology still holds a great deal of opportunity. Once you have thoroughly researched the venture's feasibility, the next most important step is to ____________.

• A) research competitors
• B) find possible customers
• C) develop a business plan
• D) create a marketing strategy
• E) hire employees

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Definitions:

Campus Community

A term that refers to the collective group of students, faculty, staff, and others who inhabit or are associated with a college or university environment.

Absolute Truths

Facts or principles that are universally valid, unchanging, and not dependent on individual beliefs.

College Education

An advanced level of education beyond high school, usually provided by colleges or universities, that typically results in a degree or certification.

Cognitive Flexibility

The cognitive skill to toggle between considering two distinct ideas or to contemplate several ideas at the same time.