One of the Limitations of the Model Is That There

question 59

Multiple Choice

One of the limitations of the model is that there is a lack of standards.

• A)hierarchical
• B)network
• C)relational
• D)entity relationship

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Definitions:

Competitive Strategy

A business plan that companies use to achieve a competitive advantage, typically by defining how they will compete against rivals in areas such as price, quality, and innovation.

Cost Minimization

The process of reducing expenses to the lowest possible level while still achieving the desired level of production or activity.

Profit Maximization

Refers to the process or strategy focused on increasing the net profit of a business by either increasing revenue, reducing costs, or both.

Transportation Strategy

The planning and implementation of effective means to move goods and services from one location to another, aiming to optimize costs, efficiency, and reliability.