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3 years ago

The process of first creating and then developing and strengthening capabilities internally

Business

1 answer:

REY [17]3 years ago

6 0

Answer:

B. requires first developing the ability to do something, however imperfectly or inefficiently perform their assigned activities in a tightly-prescribed manner developed by the company's foremost technical experts second, translating this ability into a tried-and-true competence and/or capability by learning to do the activity consistently well and at an acceptable cost, and then continuing to polish, refine, and sharpen their performance of the competence or capability, striving not just for ongoing improvements but, ultimately, for best-in-industry or best-in-world proficiency

Explanation:

If a company chooses to develop it's competencies and capabilities internally and not externally by maybe choosing to outsource experts or merging or collaborating with companies with required competence and expertise, then they would have to follow through with the process of developing and nurturing internal capability and competencies. To proceed with internal competence, a company would need to hire experts if there are none in the company, these experts would train staff who follow through with the process in the option chosen above.

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What are the opportunities of an entrepreneur

slavikrds [6]

Definition: the skill and risk taking ability of the person who brings the other resources or factors of production together to produce a good or service e.g. the owner of a business. These people are called entrepreneurs

Opportunities of an entrepreneur:
• involves the sale or lease of any product, service, equipment that will enable the purchaser-licensee to begin a business.
• invest in (multiple) businesses
•quality content
• foreign markets
•crowdfunding

8 0

3 years ago

A federal agency that engages primarily in commercial activities, produces revenues, and requires greater flexibility than most

jeka57 [31]

Answer:

government corporation

Explanation:

A government corporation is a government-owned firm that operates with the same integrity as a private company, except that the owner is government. Every government company is chartered by legislative act. Government corporations are typically created in markets where there is a natural monopoly, they are significant to the country's infrastructure, natural resources, and general public interest.

4 0

3 years ago

Strategic management is defined as

forsale [732]

Creation and execution of goals by the management team, defined by available resources and existing conditions in and out of the company.

4 0

3 years ago

Has any questions or problems.

bearhunter [10]

Answer:

Customer relationship management (CRM).

Explanation:

CRM is an acronym for customer relationship management and it typically involves the process of combining strategies, techniques, practices and technology so as to effectively and efficiently manage their customer data in order to improve and enhance customer satisfaction. Therefore, these employees are saddled with the responsibility of ensuring the customer are satisfied and happy with their service at all times.

This ultimately implies that, customer relationship is focused on developing an ongoing connection between a business firm (organization) and all of its customers, as well as potential customers. The fundamentals of customer relationship is based on improving marketing communications, sales support, technical assistance and customer service so as to bring satisfaction to the customers.

Hence, the degree of satisfaction received by customers throughout their lifecycle is largely dependent on customer relationship management.

5 0

2 years ago

A business rents bicycles and in-line skates. Bicycle rentals cost $25 per day, and in-line skate rentals cost $20 per day. The

Alja [10]

Answer:

25 b+20 s=455...equation 1

b+s=20...equation 2, where b and s are the number of bicycle and in-line skate rentals per day.

b. The business had 11 bicycle rentals and 9 in-line skate rentals.

Explanation:

Step 1: Determine an equation for total revenue today

Since the business rents bicycles and in-line skates, the total revenue will be as a result of amount received in revenue from renting the bicycles and in-line skates. This can be expressed as shown;

T=(B×b)+(S×s)

where;

T=total revenue

B=bicycle rental cost per day

b=number of bicycles

S=in-line skate rental cost per day

s=number of in-line skates

In our case;

T=$455

B=$25 per day

b=unknown

S=$20 per day

s=unknown

Replacing;

(25×b)+(20×s)=455

25 b+20 s=455...equation 1

Step 2: Determine an equation for total rentals today

The equation for the total number of rentals is;

R=b+s

where;

R=total number of rentals today

b=number of bicycles

s=number of in-line skates

In our case;

R=20

b=unknown

s=unknown

Replacing;

b+s=20...equation 2

Step 3: Combine equation 1 and 2 ans solve simultaneously

1(25 b+20 s=455), multiplying equation 1 by 1=25 b+20 s=455

20(b+s=20), multiply equation 2 by 20=20 b+20 s=400

25 b+20 s=455

20 b+20 s=400

5 b+0 s=55

(5 b)/5=55/5=11

b=11, replace the value for b in equation 2 and solve;

(20×11)+20 s=400

220+20 s=400

20 s=400-220=180

20 s=180

s=(180/20)=9

The business had 11 bicycle rentals and 9 in-line skate rentals.

8 0

2 years ago