Which of the Following Statements Reflects Michael Porter's Theory Regarding

question 148

Multiple Choice

Which of the following statements reflects Michael Porter's theory regarding national competitive advantage?

• A)Clusters of strong suppliers can accelerate innovation.
• B)A firm that succeeds in global markets has often left a domestic market because it was too competitive.
• C)A country's natural resources,education,and infrastructure can represent obstacles that are often difficult to overcome.
• D)The first goal of a global marketer is to actively educate a nation's domestic customers.
• E)A nation's domestic workforce is more motivated to work for foreign corporations than its own.

Understand and apply the lower of cost or market rule to inventory valuation.

Calculate the ending inventory and cost of goods sold using the LIFO method.

Calculate sales revenue, cost of goods sold, and gross profit using LIFO under a perpetual inventory system.

Estimate year-end inventory and determine loss from shrinkage using the retail inventory method.

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Definitions:

Intrinsic Motivation

The drive to engage in activities for their own sake and personal rewards, rather than for some external compensation or pressure.

Top Management Support

The assistance and backing provided by senior executives to projects or initiatives, which is critical for their success.

Pilot Project

An initial small-scale implementation that is used to test the viability of a project or idea before it is executed on a larger scale.

Union Resistance

Opposition or reluctance by employees or their representatives to changes or policies proposed by management, often due to concerns over wages, working conditions, or job security.