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Understanding Competitors and Employees in Business Environment

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Understanding Competitors and Employees in Business Environment

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Questions and Answers

Which type of competitors produce and sell substitute products according to the text?

Internal Competitors

Microenvironment Competitors

Direct Competitors

Indirect Competitors (correct)

What is the role of employees in a business according to the text?

Control the intangible resources of the business

Produce and sell similar products or services

Responsible for lending money to the business

Ensure the quality and quantity of products or services provided to customers (correct)

Which type of resources extend beyond one year in terms of their usefulness according to the text?

Intangible Resources

Noncurrent or fixed Resources (correct)

Tangible Resources

Current Resources

What do creditors typically engage in with the business according to the text?

Lending money to the borrower usually for a fee Signup and view all the answers

What is the importance of resources for a business according to the text?

A business with insufficient resources cannot sustain operations Signup and view all the answers

Which stage involves getting direct feedback from potential customers?

Product development stage Signup and view all the answers

What distinguishes tangible resources from intangible resources based on the text?

Physical appearance and short-term use vs. no physical form and long-term benefits Signup and view all the answers

What is the primary purpose of the test marketing stage?

To validate the work done in the previous stages Signup and view all the answers

Which of the following is NOT a direct way to gather customer feedback during the product development process?

Analyzing market research reports Signup and view all the answers

What is the primary goal of the concept stage in the product development process?

To gather initial reactions from potential customers Signup and view all the answers

Which of the following should be completed before preparing a comprehensive business plan?

All of the above Signup and view all the answers

What does Business Culture represent?

The collection of values, beliefs, and expectations shared by employees Signup and view all the answers

What does Cultural Integration refer to in a business context?

The degree to which units across the business share a common culture Signup and view all the answers

What is the responsibility of the entrepreneur in relation to cultural acceptance among Filipino workers?

Handling the level of cultural acceptance and integration Signup and view all the answers

What is one factor that influences the complexity of a business structure?

Leadership style within the organization Signup and view all the answers

What is Focused Group Discussion (FGD) used for in a business context?

To gather views of selected consumers on buying behavior issues Signup and view all the answers

Which term refers to the degree by which employees accept the culture of a business?

Cultural Assimilation Signup and view all the answers