When industry leaders have chosen not to compete in a certain niche, a focused strategy allows small producers to
a. churn out a very large number of products at once.
b. focus on competing with the largest competitors.
c. avoid competition with the strongest competitors.
d. leave a market without being noticed.
Answer: c. avoid competition with the strongest competitors.
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____ involves collecting data about a group, department, or organization, and feeding the information back to the employees so they can analyze it and develop hypotheses about what the problems might be.
Fill in the blank(s) with the appropriate word(s).
Which of the following is true of goodwill?
A) Goodwill must be capitalized when acquired and amortized over seven years or less. B) Both created and acquired goodwill must be recorded in the books. C) Goodwill must be expensed when acquired. D) Goodwill is not amortized.