What are the current trends in purchasing that are causing problems for small business owners?
What will be an ideal response?
Two current trends in purchasing that are causing considerable problems for small firms are supplier-base downsizing and fully integrated production networks. Supplier-base downsizing, which means reducing the number of suppliers to concentrate purchasing, is a result of corporate downsizing.
The second problem, fully integrated production networks, is a primary problem for U.S. companies in global operations. If small U.S. suppliers are to survive, they must ensure that all suppliers in a supply chain achieve-and operate at-similar high standards and collectively market their skills to global competitors.
Finally, not having the appropriate stock-the right style, at the right price, at the right time, and of the proper quality-properly displayed for customers can result in added costs, lower profits, and unhappy customers.
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The five major components of an organization's internal control are: the control environment, risk assessment, control activities, information and communication, and monitoring
a. True b. False Indicate whether the statement is true or false
Which of the following steps in the innovation-adoption model of marketing communications corresponds to the cognitive stage that a buyer passes through?
A) interest B) evaluation C) trial D) awareness E) adoption
Explain why design thinking is important to the entrepreneur.
What will be an ideal response?
The examples of Target, LinkedIn, First Tennessee, and many other companies that have implemented data analytics initiatives indicate that:
a. Business analytics programs are more successful in large corporations. b. Business analytics programs are more successful in medium-sized or small corporations. c. Corporations must have a clear, step-by-step plan to implement any business analytics initiative. d. All of the above are lessons learned by organizations that have successfully implemented business analytics.