This doesn't seem to be a question, but rather, a statement.
This consideration is related to the socio cultural environment:
a.) A new business decides to begin with the city its owners live in
since they are familiar with the local geography and tax issues.
Explanation:
The socio cultural environment one is familiar with influences them in many ways.
This also includes their choice of place for where they will start the business simply because they know that domain much more and it will be easier to be effective in there.
This is the reason that people are often told to be in their familiar turf.
The new business will be able to use its full contacts and have an insight on what works and what doesn't because they operate from their own area.
Answer:
It includes; Digging deeper into areas of knowledge/expertise and comparison of achievement can help foster,creat or lead to a competitive position/ advantage. Finding out, sourcing and making use of other areas or sources of knowledge and information can keep a company up to date of competitive efforts and leads to an environment for creativity, shows/ create new knowledge within the company thereby finally leading toexisting competitive advantages and going after new ones.Success is a product of failure so therefore, getting the knowledge of failure as part of the innovative process can bring good results.
Meeting goals with all flexibility and sharing of personal stories, sourcing outsiders, proving one’s self wrong will all foster a kind of fear-free searching of new ideas.
Explanation:
For firm generally, crafting, creating or bringing a strategy that gives/yields a competitive advantage over rivals is said to be the most reliable means of achieving above-average profitability and financial performance in any organization. A company can attain and have sustainable competitive advantage if and when the elements of the strategy used by the company give buyers lasting and good impression orreasons to prefer a company's products or services over those of their competitors.
Strategic approaches used by company to build a competitive advantage includes; Focusing on a narrow market environment (niche) within an industry and also creating an advantage based on offering more value for the money e.t.c.
Answer:
See below
Explanation:
1. Corrected amounts for 2020 cost of goods sold
= Cost of goods sold for 2020 - December 31, 2019 ending inventories overstated + December 31, 2020 ending inventories overstated
= $1,322,900 - $106,470 + $36,820
= $1,253,250
2. Correct amounts for December 31, 2020 retained earnings
= Retained earnings December 31, 2020 - December 31, 2020 ending inventories overstated
= 4,854,000 - $36,820
= $4,817,180
Answer:
Product development.
Explanation:
The product development stage is the initial part of a product life cycle. Market research is carried out at this stage to determine how well the product will sell in the market.
Product development stage involves the creation of a particular product from an idea and then introducing it into the market. Getting feedback about the product from test users is very important in this stage.
