One Particularly Useful Technique in Analyzing a Firm's Competitive Position

question 70

Multiple Choice

One particularly useful technique in analyzing a firm's competitive position relative to its competitors is referred to as SWOT which stands for:

• A)Strengths, Weaknesses, Organization, Total value.
• B)Strengths, Weaknesses, Operations, Training.
• C)Strengths, Weaknesses, Opportunities, Total costs.
• D)Strengths, Weaknesses, Opportunities, Transfers.
• E)Strengths, Weaknesses, Opportunities, Threats.

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Definitions:

Indirect Materials

Indirect materials are those materials used in the production process but are not directly traceable to specific products, such as lubricants for machinery.

Work in Process Inventory

Goods that are in the production process but have not yet been completed; represents one of the stages in manufacturing inventory.

Journal Entry

A recorded transaction in the accounting books of a business, which is used to document financial activities and maintain the integrity of financial statements.

Time Ticket

A record documenting the amount of time an employee or worker spends on various tasks or jobs, used for billing or payroll purposes.