Steam engine brought about advancement in transportation and trade by powering locomotives and steamships which carried both goods and people to distant places in record time. Over the years, knowledge continue to increase and new inventions emerge, these include diesel and electric trains. Today, steam engines are no longer in use. Those that exist are used for historical, entertainment and educational purposes.
Answer:
non-equity alliance.
Explanation:
In Business management, a strategy can be defined as a set of guiding principles, actions and decisions that an organization combines so as to achieve its business goals, attract customers and possess a competitive advantage over its rivals in the industry.
Generally, a business strategy sets the overall direction for the business because it focuses on defining how a business would achieve its goals, objectives, and mission; as well as the funds and material resources required to implement or execute the business plan. The components of a business strategy includes the following;
I. Mission.
II. Value.
III. Vision.
Hence, when you wish to build alliance management capabilities in small companies, it is highly recommended that business firms take the non-equity alliance approach.
A non-equity alliance approach can be defined as a contractual relationship between two or more organizations that are interested in achieving common goals and objectives by pooling their resources, capabilities and efforts together while respectively maintaining their organizational independence without creating a new corporation or equity entity.
Answer: off price retailers
Explanation: In simple words, it refers to the retailers that sells high quality products at relatively lower prices than market. The key to their business structure is the discount they offer as the majority of product they sell are of second hand quality or are off seasoned.
They procure material directly from the suppliers in the form of scrap etc and then sells it to retailer at heavy discounts. Hence from the above we can conclude that the correct answer is off price retailers.
Later movers do not face high growth markets. Later movers are also referred to late followrs or later market entrants. These businesses enter the market after the market has been established. By joining the market later, they have an advantage because they can see what kinks have been worked out by other companies, what has worked and was hasn't worked.
