18 Questions
What is considered the 'inner life force' of an enterprise operation?
Organization
In the enterprise life cycle, which factor is described as the 'outer life force'?
Environmental Conditions
What does a marketing plan aim to guide a business towards?
Achieving customer satisfaction at a profit
Which of the following activities is NOT typically associated with marketing according to the text?
Product Development
What is the sixth 'M' introduced in the enterprise operation context?
Manpower
Which element represents the 'visible life' of an enterprise according to the text?
Product or service
What is the primary objective of environmental scanning in the context of establishing an enterprise?
Identify opportunities and assess risks and threats
During the implementation phase of establishing an enterprise, what resources are deployed?
Human resources
What is a critical aspect to consider during the implementation phase of establishing an enterprise?
Establishing sound management guidelines
Which step in the enterprise life cycle involves production going into full gear and gaining market acceptance for products or services?
Commercial operations
What is a key activity during the evaluation of alternatives phase when exploiting an opportunity?
Devising pay plans and incentive schemes
Which of the following is crucial for determining the sustainability of a business according to the text?
Establishing sound management guidelines
What are the four possible scenarios that can emerge in the fifth stage of the enterprise cycle?
Expansion, Integration, Contraction, Consolidation
What does 'Integrating Backward' in the context of enterprise operations refer to?
Taking ownership of suppliers
Which action is typically associated with 'Enterprise consolidation'?
Removing excess 'fat' and streamlining operations
What is the significance of 'Repositioning' in the enterprise life cycle?
Redefining the market position and strategy
Which term describes an enterprise's efforts to uplift the quality of life of its workers and customers?
Primordial
What does 'Integration Forward' entail in the context of enterprise activities?
Taking ownership of all parts of logistics, from raw materials to end-consumer
Explore the four scenarios that emerge in the fifth stage of the enterprise cycle, including expansion, integration, contraction, and consolidation. Understand how the product quality, service, and management influence these scenarios based on market trends and industry factors.
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