Answer:
a) an organization hiring a contractor to perform a task it has been doing in house.
Explanation:
<u><em>Sub contracting (outsourcing)</em></u><em> is the practice of business giving out a internal task or a function to an to an external contractor to perform in order for the business to concentrate on achieving its core function. It must be noted that the function(s) that are contracted out are those the business organization could do or have doing itself. </em>
<em>These functions are outsourced to enable the business achieve efficiency and get the benefits and value of expertise of the contractor.</em>
It is also known as outsourcing or contract manufacturing
It depends of what position you're in in the economy if your business owner your financial choices can affect the customers coming to your business and the people working for you / your business
Answer:
Inventory Management Report
Explanation:
Inventory management is the most essential part of every organization where an organization manages its raw material, check their availability of a product, back storage so that company doesn't get a shortage of its product and the quantities. On the other hand inventory management report indicates the strong decision variables are set by the buyers.
Therefore from the above explanation, the correct answer is an inventory management report.
Answer:
The main aim for economic activities is production of goods and making sure that it reaches the end consumer. Therefore business is considered an economic activity because it ensures production, sale, distribution of goods and services in order to satisfy consumer wants, with the purpose of making good profits
Explanation:
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Answer:
There comes a time when every company must make a decision to evolve because the products that they offer will always become obsolete at some point in the future. This is simply because humans will always strive to make processes more efficient.
Electronics Company A is a leader in the radio market but that market is shrinking. There is a new revenue stream however and that market is growing.
The decision that they should make is to reduce the amount of facilities that are dedicated to radios and channel it to the production of CD players so that they may gain dominance there before the market becomes saturated. Had Kodak have done this when digital cameras were on the rise, their fall from grace might not have happened at all.
The Opportunity Cost of this however is that they may lose dominance in the radio industry which is only <em>slowly </em>declining meaning that there are still profits to be made. The keyword however is that the market is <em>declining</em>. They should therefore evolve and move to an industry that is on the up and up which is the CD player.
Failure to do this would mean that they would become another Kodak or Blockbuster.