Charles and Steve Are Business Partners Who Want to Start

question 53

Multiple Choice

Charles and Steve are business partners who want to start a publishing house.Both partners thoroughly research the market before proceeding with the planning.They believe that the research results guarantee that the new business will be successful.Which of the following will help Charles and Steve interpret their research results accurately?

• A)Considering the results of the research as a final answer to all doubts about setting up the new business
• B)Using the research results as a substitute for decision making
• C)Knowing that even the most carefully executed research can be fraught with errors
• D)Understanding that marketing research studies all of the factors that contribute to the success of a business

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Definitions:

Work Cell

An arrangement of resources in a manufacturing environment designed to process a specific set of tasks or a particular product, often as part of a lean manufacturing system.

Process-Oriented Facility

A type of manufacturing or service facility organized around specific processes or activities to produce goods or services.

Innovations

Introductions of new ideas, methods, or products that significantly alter the way things are done or perceived.

Layout Decisions

Choices made regarding the arrangement of physical facilities, equipment, and operations within a workspace to improve efficiency and workflow.