Explain how technological innovation has benefitted entrepreneurs
What will be an ideal response?
Technological innovation is accelerating the pace of globalization. Significant advancements in information technology and transportation methods are making it easier, faster, and less costly to move data, goods, and equipment around the world. Important technological advances include e-mail, videoconferencing, the Internet and the World Wide Web, company intranets and extranets, and advancements in transportation technologies (including GPS and RFID).
Entrepreneurs and small businesses have benefitted from these technological innovations because in this age of globalization, small companies are increasingly active in international trade and investment. Companies are exporting earlier and growing faster, often with help from technology. Traditional distribution channels often gave only large companies access to distant markets, whereas electronic distribution is a cheap and effective alternative for small businesses that sell digitized products. Small companies that sell traditional products also benefit from technology that lowers the cost and difficulties of global communication.
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a. point of purchase b. distribution c. advertising d. product.
Which of the following beneficiary designations would meet the policyowner's wish to have his children receive equal shares of his life insurance. And if any of his children should die before he does, he wants the surviving children to receive the deceased child's share equally divided among them.
A. Per capita designation B. Per stripes designation C. Each named as contingent with equal shares. D. Any of the above would produce the desired results.