The Use of Outsourcing Allows the Firm to Focus On

question 22

Multiple Choice

The use of outsourcing allows the firm to focus on:

• A) business continuity plans.
• B) downsizing.
• C) telecommuting.
• D) core competency.

Comprehend the key generic business strategies and their implications.

Recognize the importance and methods of achieving both product differentiation and cost leadership.

Realize the significance of basing marketing plans on facts and valid assumptions.

Identify strategies for effective implementation of marketing plans.

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Definitions:

New Ventures

Refers to newly established businesses or startups that are engaged in the process of entering a market and implementing a novel business plan.

High-Potential Ventures

Businesses or projects with strong growth prospects and the potential for significant financial returns.

Lead Entrepreneur

The primary individual responsible for the vision, strategy, and overall direction of a startup or entrepreneurial venture.

Venture Capital-Backed

Describes businesses that have received funding from venture capitalists, who invest in startups with high growth potential in exchange for equity.