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A General Rule of Thumb Is That the Actual Time

question 48

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A general rule of thumb is that the actual time to implement an enterprise resource planning (ERP)system may range from 1.5 to 2 times longer than the time period specified by the ERP vendor.


Definitions:

Import Competition

The competitive pressure on domestic companies from foreign products and services entering the domestic market.

Oligopoly

A market structure characterized by a small number of large firms that dominate the market, leading to limited competition and the potential for collaborative behavior.

Differentiated Product

A product that is distinguished from similar products offered by competitors through unique features, branding, or quality, allowing the company to potentially command a higher price.

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