Charles and Steve Are Business Partners Who Want to Start

question 75

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 filled with errors
• D) Understanding that marketing research studies all the factors that contribute to the success of a business

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Definitions:

Organizational Structures

The systems of roles, responsibilities, and authority within a company, determining how activities and resources are coordinated and managed.

Mission and Objectives

The fundamental purpose and goals that guide an organization, providing a direction for its actions and decision-making processes.

Virtual Organization

An organization that uses mobile IT to engage a shifting network of strategic alliances.

Boundaryless Organization

An organization that eliminates internal boundaries among subsystems and external boundaries with the external environment.