Once a Firm Has Done an Analysis of the Most

question 70

Multiple Choice

Once a firm has done an analysis of the most viable markets for its products, then it must next

• A)determine the competition and develop strategies to overcome it.
• B)conduct an internal assessment of its capabilities.
• C)conduct an external analysis of the target market's economy, culture, and regulatory barriers.
• D)develop a product to meet the needs of those markets.
• E)achieve success with the product in its home market.

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Definitions:

Self-Awareness

The conscious knowledge of one’s own character, feelings, motives, and desires.

Heredity

The passing of traits from parents to offspring through genes.

Fundamental Attribution Error

The fundamental attribution error is a cognitive bias wherein people overemphasize personality traits and underestimate situational factors when explaining others' behavior.

Personality Traits

Enduring patterns of behavior, thought, and emotion that are characteristic and consistent in individuals.