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What are the 3 major determinants of market share and profitability of an organization?
What are the 3 major determinants of market share and profitability of an organization?
- Customer service, employee satisfaction, and innovation
- Unit cost, quality, and manufacturing lead time (correct)
- Marketing strategy, product design, and advertising budget
- Raw material cost, production capacity, and distribution network
What is the modern way of developing new products to be competitive in the global economy?
What is the modern way of developing new products to be competitive in the global economy?
- Mass production techniques
- Cost-cutting strategies
- Traditional manufacturing methods
- Total quality development (correct)
What is the function of a communication satellite?
What is the function of a communication satellite?
- Generate its own signals for global communication
- Control weather patterns through signal manipulation
- Receive signals from Earth and retransmit them using a transponder (correct)
- Redirect signals to outer space for exploration purposes
How do train wheels on the same axis run stably on both straight and curved tracks?
How do train wheels on the same axis run stably on both straight and curved tracks?
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What does the global economy refer to?
What does the global economy refer to?
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Study Notes
Determinants of Market Share and Profitability
- The three major determinants of market share and profitability of an organization are:
- Product differentiation
- Cost leadership
- Market focus
Product Development in the Global Economy
- The modern way of developing new products to be competitive in the global economy involves embracing innovation, creativity, and agility.
Communication Satellites
- The function of a communication satellite is to relay signals from a source to a receiver, facilitating communication over long distances.
Train Wheels on Straight and Curved Tracks
- Train wheels on the same axis run stably on both straight and curved tracks due to the conical shape of the wheels, which allows them to self-adjust to the track shape.
The Global Economy
- The global economy refers to the international flow of goods, services, and investments across national borders, involving trade, finance, and industry at a global scale.
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