Which Type of Social Group Commands a Member's Esteem and Loyalty

question 16

Multiple Choice

Which type of social group commands a member's esteem and loyalty?

• A)an in-group
• B)an out-group
• C)a reference group
• D)a social network

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Definitions:

Few Suppliers

Refers to a supply chain strategy where a company relies on a limited number of suppliers for its raw materials or components, aiming to build closer, more collaborative relationships and ensure better quality control.

Vertical Integration

A strategy where a company expands its business operations into different steps on the same production path, such as when a manufacturer owns its supplier and/or distributor.

Economies Of Scale

The cost advantage achieved by businesses when production becomes efficient, leading to a lower cost per unit as output increases.

Virtual Companies

Companies that rely on a variety of supplier relationships to provide services on demand. Also known as hollow corporations or network companies.