what are 10 strategic items companies outsource
Answers
Outsourcing has become a prevalent business practice, allowing companies to leverage external expertise and resources for tasks previously handled in-house. This approach presents several advantages, including cost savings, increased operational efficiency, and access to specialized knowledge. In this article, we will explore ten strategic areas commonly outsourced by companies, highlighting the benefits they offer.
1. Human Resources (HR):
Outsourcing HR functions streamlines workforce management, reduces overhead costs, and ensures compliance. External HR services excel in activities such as recruitment, benefits administration, performance management, and regulatory compliance.
2. Payroll:
Outsourcing payroll minimizes errors, saves time, and ensures accurate salary processing. External providers handle payroll calculations, tax deductions, direct deposits, and labor law compliance, freeing up internal staff for core responsibilities.
3. Accounting:
Outsourcing accounting functions grants access to expert financial knowledge while reducing overhead expenses. External accounting firms excel in bookkeeping, financial statement preparation, tax planning and compliance, and financial analysis, allowing businesses to focus on their core activities.
4. IT Services:
By outsourcing IT services, businesses tap into specialized technology expertise without the need for extensive in-house infrastructure. External IT service providers cover network management, software development, cybersecurity, data backup, and technical support, optimizing technology utilization and reducing costs.
5. Customer Service:
Outsourcing customer service functions enhances service levels and customer satisfaction. External call centers or customer support agencies efficiently handle inquiries, complaints, order processing, and provide 24/7 support, leading to improved customer experiences and cost savings.
7. Marketing:
Outsourcing marketing activities provides access to specialized professionals and strategies while reducing costs. External marketing agencies excel in market research, advertising campaigns, social media management, content creation, and brand development, amplifying marketing effectiveness.
8. Product Development:
Outsourcing product development tasks accelerates innovation and cost optimization. External product development firms assist with research, design, prototyping, testing, and manufacturing, enabling businesses to bring new products to market efficiently.
9. Logistics:
Outsourcing logistics functions optimizes supply chain management and reduces operational costs. External logistics providers handle transportation, warehousing, inventory management, order fulfillment, and distribution, ensuring efficient and timely delivery of goods.
10. Legal Services:
Outsourcing legal services reduces legal costs and provides specialized legal expertise. External law firms or consultants assist with contract drafting, compliance, intellectual property protection, dispute resolution, and regulatory matters, ensuring legal support tailored to the company's needs.
11. Cleaning and Maintenance:
Outsourcing cleaning and maintenance tasks allows companies to prioritize core activities while ensuring a well-maintained work environment. External cleaning and maintenance services cover janitorial tasks, facility maintenance, landscaping, and equipment upkeep, enhancing operational efficiency.
Outsourcing strategic functions in business offers a range of benefits, including cost savings, increased efficiency, and access to specialized expertise. By identifying the areas suitable for outsourcing, companies can optimize their operations, concentrate on core competencies, and achieve sustainable growth. Whether it's HR, payroll, accounting, IT services, customer service, marketing, product development, logistics, legal services, or cleaning and maintenance, outsourcing can be a valuable strategy for businesses seeking to enhance their competitiveness in the market.
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Related Questions
what are three types of pricing associated with business products?
Answers
Answer:
geographic pricing, transfer pricing, and discounting.
Explanation:
internet.
In the Capacity Allocation problem with two classes, companies have to determine Group of answer choices How many discount customers should be allowed to book reservations How many full-fare customers should be postpone for later reservations How many full-fare customers are allowed to book reservations How many customers they should allow to book reservations
Answers
Answer:
The answer is "First Choice".
Explanation:
The capacity allocation implies assets within each instance; the instance is system activation. That location of resources that are subject to several optimization algorithm restrictions involves an extensive debris field whenever the status of each process is role transition, that's why the Firms must decide how often discount customers must be permitted to reserve for capacity distribution with 2 groups.
The spinner is divided into 8 equal sections. a spinner is split into 8 sections labeled blue, brown, green, red, purple, brown, green, yellow. what is the probability of spinning g, green?
Answers
The probability of spinning green on the spinner divided into 8 equal sections is 1/8 or 12.5%.
How likely is spinning green (1/8) on the divided spinner with 8 equal sections?In this case, the spinner has 8 equal sections, and one of those sections is labeled "green." Therefore, the probability of spinning "green" can be calculated by dividing the number of favorable outcomes (1) by the total number of possible outcomes (8).
Probability of spinning green = Number of favorable outcomes / Total number of possible outcomes
Probability of spinning green = 1 / 8
Thus, the probability of spinning "green" is 1/8 or 0.125, which can also be expressed as a percentage of 12.5%.
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SEND HELP ASAP 10 points
Two people quit work and begin college at the same time. Their salary and education information is given in the table below.
Salary prior to school
Years attending college
Total cost of college
Salary upon graduating
Person A
$18,000
3
$45000
$33,000
Person B
$27,000
4
$30,000
$37,000
Choose the true statement.
a.
Person A recovers their investment in a shorter amount of time.
b.
Person B recovers their investment in a shorter amount of time.
c.
They recover their investments in the same amount of time.
d.
There is too little information to compare the time to recover their investments.
Please select the best answer from the choices provided
A
B
C
D
Answers
Answer:
A
Explanation:
One year headstart
Which of these learning styles best describes someone who prefers to learn through hands-on activity or activities that allow them to use movement?
verbal/linguistic
interpersonal
bodily/kinesthetic
rhythmic/musical
Answers
Answer:bodily/kinesthetic have a great day
Answer:
bodily/kinesthetic
The Shirt Works sells a large variety of tee shirts and sweatshirts. Steve Hooper, the owner, is thinking of expanding his sales by hiring high school students, on a commission basis, to sell sweatshirts bearing the name and mascot of the local high school.
These sweatshirts would have to be ordered from the manufacturer six weeks in advance, and they could not be returned because of the unique printing required. The sweatshirts would cost Hooper $16.00 each with a minimum order of 203 sweatshirts. Any additional sweatshirts would have to be ordered in increments of 203.
Since Hooper’s plan would not require any additional facilities, the only costs associated with the project would be the costs of the sweatshirts and the costs of the sales commissions. The selling price of the sweatshirts would be $32.00 each. Hooper would pay the students a commission of $7.00 for each shirt sold.
Required:
1. What level of unit sales and dollar sales is needed to attain a target profit of $7,308?
2. Assume that Hooper places an initial order for 203 sweatshirts. What is his break-even point in unit sales and dollar sales? (Round your intermediate calculations, round "Break-even point in unit sales" up to the nearest whole unit and round "Break-even point in dollar sales" to the nearest whole dollar.)
3. How many sweatshirts would Hooper need to sell to earn a target profit of $8,222? (Round final answer up to the nearest whole unit.)
Answers
1. The unit and dollar sales levels needed to attain a target profit of $7,308 are 812 and $25,984.
2. The break-even point with 203 sweatshirts is $4,669.
3. The unit sales level needed to attain a target profit of $8,222 is 914.
What is the break-even point?The break-even point represents the required sales units for no profit or loss to be achieved.
At the break-even point, the total revenue equals the total costs (fixed and variable).
Data and Calculations:Selling price per sweatshirt = $32
Variable cost per unit = $23 ($7 + $16)
Contribution margin per unit = $9 ($32 - $23)
Contribution margin ratio = 0.28125 ($9/$32)
Fixed costs = $0
Target profit = $7,308
1. Sales level to attain a target profit of $7,308 = 812 units ($7,308/$9)
And $25,984 ($7,308/0.28125)
2. Break-even point with 203 sweatshirts = $4,669 ($23 x 203)
3. Target profit = $8,222
Sales level to attain a target profit of $8,222 = 914 units ($8,222/$9)
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The federal reserve can affect you through
Answers
As the Federal Reserve conducts monetary policy, it influences employment and inflation primarily through using its policy tools to influence the availability and cost of credit in the economy.
Your credit card has a credit limit of $1,000. Your credit card company reviews your credit line every 6 months.
Answers
The time it will take to increase the limit to $1,600 is 2.5 years, when the credit card has a credit limit of $1,000.
What is a credit card?A credit card is a payment card issued to users or cardholders to enable the cardholder to pay a merchant for goods and services based on the cardholder's accrued debt that is promised to the card issuer to pay them for the amounts plus the other agreed charges. The card issuer usually a bank or credit union creates a revolving account and grants a line of credit to the cardholder, from which the cardholder can borrow money for payment to a merchant or as a cash advance.
A credit card is different from a debit card.
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Your question was incomplete, your full question probably was:
Your credit card has a credit limit of $1,000. Your credit card company reviews your credit line every 6 months. They will not increase your credit line more than 10% each 6-month period. Assuming they increase your limit each 6-month period by 10%, how long will it take to increase your limit to $1,600?
You invest $X into a fund that promises a return of 9% per year. How many years will it take for
your investment to increase to a value of at least $8X? Provide your answer as an integer.
Answers
Future Value is the desired value ($8X in this case)
Present Value is the initial investment amount ($X in this case)
Interest rate is the annual rate of return (9% or 0.09 in decimal form)
n is the number of years we want to find.
To determine the number of years it will take for an investment to increase to a value of at least $8X with a 9% annual return, we can use the concept of compound interest.
The formula to calculate the future value of an investment with compound interest is:
Future Value = Present Value * (1 + interest rate)^n
Where:
Future Value is the desired value ($8X in this case)
Present Value is the initial investment amount ($X in this case)
Interest rate is the annual rate of return (9% or 0.09 in decimal form)
n is the number of years we want to find.
Substituting the given values into the formula:
$8X = $X * (1 + 0.09)^n
To simplify the equation, we can divide both sides by $X:
8 = (1.09)^n
Taking the logarithm of both sides (base 10 or natural logarithm, it doesn't matter), we can solve for n:
log(8) = log((1.09)^n)
n * log(1.09) = log(8)
n = log(8) / log(1.09)
Using a calculator, we can find that:
n ≈ 11.84
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Brownsville Novelty Store prepared the following budget information for the month of May: Sales are budgeted at $360,000. All sales are on account and a provision for bad debts is made for each month at three percent of sales for the month. Inventory was $84,000 on April 30; an inventory increase of $12,000 is planned for May 31. All inventory is marked to sell at cost plus 50 percent. Estimated cash disbursements for selling and administrative expenses for the month are $48,000. Depreciation for May is projected at $6,000. Brownsville's budgeted bad debts expense for May is:
Answers
Answer: $10800
Explanation:
Brownsville's budgeted bad debts expense for May will be calculated by multiplying the sales budgeted for May by the percentage allocated to the provision for bad debt. This will be:
= $360,000 × 3%
= $360,000 × 3/100
= $360,000 × 0.03
= $10800
Brownsville's budgeted bad debts expense for May is $10800
What adjustments are made to net income to arrive at operating cash flows in the operating section of the statement of cash flows
Answers
Answer:
Adjustments of Non-Cash items and Changes in Working Capital items
Explanation:
Cashflow Statement shows the movement in Cash and Cash equivalent balance during the reporting period. Net Income is not a Cashflow item, however this can be reconciled to Cashflow amount by adjusting it by Non-Cash items and Changes in Working Capital items. This is done when the Cashflow statement is prepared using the Indirect Method.
the annual percentage rate (apr) is equivalent to the stated rate of interest when the is used to calculate finance charges.
Answers
The annual percentage rate (apr) is equivalent to the stated rate of interest when the simple interest method is used to calculate finance charges.
Finance, financing is the process of raising funds or capital for any kind of expense. It is the process of directing various funds in the form of credits, loans, or invested capital to the entities that need them most or can use them most productively.Finance can be broadly divided into three categories: public finance, corporate finance, and private finance. New subcategories of finance include social finance and behavioral finance. The purpose of finance is to enable individuals, businesses, and governments to save, manage, acquire, and use money efficiently.
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how do you the accounting equation
Answers
Answer:
1. Assets = Liabilities + Owner Equity.
2. Liabilities = Assets - Owner Equity.
3. Owner Equity = Assets - Liabilities.
The portion of the obama stimulus package that provided unemployment benefits for longer than the usual 26 weeks is best thought of as?
Answers
The portion of the obama stimulus package that provided unemployment benefits for longer than the usual 26 weeks is best thought of as non-discretionary fiscal policy
What is Fiscal policy?
Fiscal policy is the use of taxes and government spending to control the economic activity of a country. Such intent is explicitly stated in the Employment Act of 1946 and restated in the Humphrey-Hawkins Act of 1978.
What is Nondiscretionary fiscal policy ?
Nondiscretionary fiscal policy consists of policies that are built into the system so that an expansionary or contractionary stimulus can be given automatically. Unemployment insurance, the progressive income tax, and welfare serve as the built-in policies.
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The Plastics Division of Weston Company manufactures plastic molds and then sells them to customers for $70 per unit. Its variable cost is $30 per unit, and its fixed cost per unit is $10. Management would like the Plastics Division to transfer 10,000 of these molds to another division within the company at a price of $40. The Plastics Division has excess capacity of 10,000 units for plastic moldings. What is the minimum transfer price that the Plastics Division should accept
Answers
Answer:
$30
Explanation:
Based on the information given in a situation where the Plastics Division has 10,000 units as the excess capacity for plastic moldings in which the VARIABLE COST is $30 per unit which means that the MINIMUM TRANSFER PRICE that the Plastics Division should accept will be the
VARIABLE COST per unit amount of $30.
Therefore the MINIMUM TRANSFER PRICE that the Plastics Division should accept is $30
What are the basic forms of competition? Discuss
Answers
Answer:
Explanation:
La educación por competencias ha resurgido en todo el mundo con gran fuerza desde finales del siglo pasado. Las reformas del sistema educativo mexicano emprendidas en la última década y que comprenden todos los niveles tienen un elemento en común: un currículo con un enfoque basado en competencias. Al igual que en otros países, en México estamos viviendo una efervescencia por las competencias; no obstante, la confusión y la incertidumbre parecen ser el signo distintivo de estas reformas. Es cierto que el concepto de competencias es polisémico y complejo, que no existe una teoría unificada que sustente este enfoque y que carecemos de experiencia en la puesta en práctica de un currículo basado en competencias. Si a esto le sumamos la dificultad propia que entraña la evaluación del aprendizaje, diremos que las condiciones están puestas para que la ambigüedad y el desconcierto reinen en los centros educativos, tal como está sucediendo. Este artículo tiene como objetivo contribuir al debate teórico actual en torno a la evaluación de competencias, así como aportar algunos rudimentos de tipo metodológico que permitan a los profesores mejorar sus concepciones y prácticas de evaluación.
Palabras clave: educación por competencias, evaluación de competencias, currículo basado en competencias, aprendizaje por competencias.
As a percentage of taxable income since 1993, federal personal income taxes were lowest in which of the following presidential administrations?
A.
The Bush administrations.
B.
The Clinton administrations.
C.
The Obama administrations.
D.
They were roughly the same during all of the above administrations.
Answers
As a percentage of taxable income since 1993, federal personal income taxes were lowest in the Bush administrations. Let us explain why below.As per statistics provided by the Congressional Budget Office (CBO), federal personal income taxes have been fluctuating since 1993.
It was reported to be lowest during the Bush administration while the highest was during the Clinton administration. We can see a difference of about 7% between the two presidencies.In the case of Obama's administration, federal personal income taxes were reported to be the lowest after the Bush administration.
The highest was during the Clinton administration which had a rate of 15.4% and Obama's administration followed behind with a rate of 14.8%.During all of the above administrations, there were differences reported in terms of the highest and lowest percentages of personal income taxes. Therefore, option D (They were roughly the same during all of the above administrations) is not correct.Hence, the correct answer is option A (The Bush administrations).
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finish the lyrics...
im cold as ice, i paid the price i dont care, __________________
(dont answer if you dont know lol)
Answers
Answer:
there's most of me
Explanation:
song - cold of ice or search up the remaining lyrics..
I need help bruh. Prereading activities include A. concept mapping B. discussion C. Questioning D. all of these
Answers
Explanation
Answer:
D
All of these
Explanation:
Steven smith paid his ex-wife alimony of $22,000 in 2021. his marriage settlement agreement was signed on february 1, 2019. how are his alimony payments reported on his federal return?
Answers
Alimony payments are never deductible and are no longer included on the federal return.
The Internal Revenue Service (IRS) imposes a tax on the yearly income of people, businesses, trusts, and other legal organisations. This tax is known as the federal income tax in the United States. All sources of income, including wages, salaries, commissions, bonuses, gratuities, investment income, and other forms of unearned income, that are included in a taxpayer's taxable income federal return are subject to federal income taxes. Federal income tax rates for individuals are progressive in the United States, which means that they rise in proportion to an individual's taxable income. There are several income levels at which the federal income tax rates, which vary from 10% to 37%, take effect. Tax brackets are the different income levels that the rates apply to. Each tax bracket has its own rate of taxation, which is applied to income that falls inside it.
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Which set of items appears on a loan estimate? Inspection contingency, legal property description, interest rate Interest rate, estimated monthly payment, estimated cash to close Credit score, inspection contingency, prepayment penalty Recommended repairs, estimated cash to close, private sewer and well disclosure
Answers
Answer:
Interest rate, estimated monthly payment, estimated cash to close
Explanation:
A loan estimate is a document that your lender/bank gives to you after you have applied for a loan (business, personal or mortgage). It must contain relevant information regarding the loan: interest charged by the bank, length of the loan, estimated monthly payment, estimated closing costs, insurance costs, applicable taxes, etc.
The lender must give you the loan estimate in 3 business days maximum, but it doesn't mean that it has approved or rejected your loan.
1.Suppose you invested in a bond three years ago. You bought the bond at $965 and today the price of the bond is $1047.75. You just calculated that your HPR on the bond is 35%. Given this and a face value of $1,000, what is the coupon rate of the bond?
a.4.9%
b.6.2%
c.8.5%
d.10.6%
Answers
To calculate the coupon rate of the bond, we can use the formula for the Holding Period Return (HPR) and the given information.
HPR is calculated as:
HPR = (Ending Value - Beginning Value + Coupon Payment) / Beginning Value
In this case, the beginning value is $965, the ending value is $1047.75, and the HPR is 35%. The face value of the bond is $1,000.
Let's rearrange the formula to solve for the coupon payment:
35% = ($1047.75 - $965 + Coupon Payment) / $965
Now, we can solve for the coupon payment:
35% * $965 = $1047.75 - $965 + Coupon Payment
0.35 * $965 = $82.75 + Coupon Payment
$337.75 = $82.75 + Coupon Payment
Coupon Payment = $337.75 - $82.75
Coupon Payment = $255
The coupon payment is $255. Now, to calculate the coupon rate, we divide the coupon payment by the face value of the bond and express it as a percentage:
Coupon Rate = (Coupon Payment / Face Value) * 100
Coupon Rate = ($255 / $1000) * 100
Coupon Rate = 25.5%
Therefore, the coupon rate of the bond is 25.5%. None of the provided options (a. 4.9%, b. 6.2%, c. 8.5%, d. 10.6%) match the calculated coupon rate.
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prove that the points (- 6 - 8) (- 16 12) and( - 26 - 18) are the vertices of an isosceles right angled triangle
Answers
Answer:
The answer is "True".
Explanation:
Given points:
\(A= (-6,-8)\\B=(-16, 12)\\C=(-26, -18)\\\)
Condition of the right-angle triangle is: \(\bold{AC^2= AB^2+BC^2}\)
Formula to find length:
\(Length= \sqrt{(x_2-x_1)^2+(y_2-y_1)^2}\)
\(AC = (-6,-8)(-26,-18)\\\\x_1= -6 \ \ y_1=-8 \ \ \ and \ \ \ x_2=-26 \ \ y_2=-18\\\)
\(\Rightarrow AC= \sqrt{(-26-(-6))^2+(-18-(-8))^2}\\\\\Rightarrow AC= \sqrt{(-26+6))^2+(-18+8))^2}\\\\\Rightarrow AC= \sqrt{(-20))^2+(-10))^2}\\\\\Rightarrow AC= \sqrt{400+100}\\\\\Rightarrow AC= \sqrt{500}\\\\\)
\(AB = (-6,-8)(-16,12)\\\\x_1= -6 \ \ y_1=-8 \ \ \ and \ \ \ x_2=-16 \ \ y_2=12\\\)
\(\Rightarrow AB= \sqrt{(-16-(-6))^2+(12-(-8))^2}\\\\\Rightarrow AB= \sqrt{(-16+6))^2+(12+8))^2}\\\\\Rightarrow AB= \sqrt{(-10))^2+(20))^2}\\\\\Rightarrow AB= \sqrt{100+400}\\\\\Rightarrow AB= \sqrt{500}\\\\\)
\(BC = (-16,12)(-26,-18)\\\\x_1= -16 \ \ y_1=12 \ \ \ and \ \ \ x_2=-26 \ \ y_2=-18\\\)
\(\Rightarrow BC= \sqrt{(-26-(-16))^2+(-18-12)^2}\\\\\Rightarrow BC= \sqrt{(-26+16))^2+(-30)^2}\\\\\Rightarrow BC= \sqrt{(-10)^2+(-30)^2}\\\\\Rightarrow BC= \sqrt{100+900}\\\\\Rightarrow BC= \sqrt{1000}\\\\\)
\(\Rightarrow {AC^2= AB^2+BC^2}\\\\\Rightarrow (\sqrt{1000})^2= (\sqrt{500+500})^2\\\\\Rightarrow 1000=1000\\\)
The angle is right-angled triangle
all of the following statements are true about information technology's impact on business firms except: it helps reduce transaction costs. it helps firms expand in size. it helps reduce internal management costs. it helps reduce agency costs. it helps firms lower the cost of market participation.
Answers
All of the following statements are true about information technology's impact on business firms except it helps firms expand in size.
The development of technology has accelerated trade and business over time. Many conventional business models and ideas underwent radical change as a result of technology. With the help of technology, we were able to adopt new viewpoints and methods for doing tasks that we were already doing.
Additionally, technology has improved our ability to transact business. Technology is essential to business in a number of areas, such as point-of-sale systems, the use of ICT in management, bookkeeping systems, and other intricate facets of routine business operations.
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what are the sources of income of the government? where do these taxes go?
Answers
Answer:
The taxes go in the national income of country
licensing is a good option to enter a foreign market when:
Answers
Answer:
Licensing is a good option to enter a foreign market when: ... Two of its competitors together control 50 percent of the market. Whenever Brental raises or lowers the prices of its products, the other two companies quickly imitate its action.
Sanders Company has a debit balance of $7,000 in its Allowance for Doubtful Accounts before any adjustments are made. Based on a review of its accounts receivable at the end of the year, Sanders estimates that $70,000 of its receivables are uncollectible. The amount of bad debt expense which should be reported for the year is $70,000. $7,000. $77,000. $63,000. $70,000.
Answers
Answer:
$77,000
Explanation:
Calculation to determine what The amount of bad debt expense which should be reported for the year is
Using this formula
Bad debt expense=Allowance for Doubtful Accounts debit balance +Estimated uncollectible receivables
Let plug in the formula
Bad debt expense=$7,000+$70,000
Bad debt expense=$77,000
Therefore The amount of bad debt expense which should be reported for the year is $77,000
the management of an indoor shopping mall wants to survey its shoppers about the layout of the stores in the mall. raffle tickets are handed out at each entrance. ninety-six of the raffle tickets were randomly selected ahead of time and marked. customers who receive the marked tickets are to be surveyed. this scenario describes?
Answers
The given scenario describes 'simple random sampling'.
Simple random sampling refers to a type of probability sampling whereby the researcher randomly chooses a subset of participants from a statistical population.
As per the scenario provided in the given statement where the management of an indoor shopping mall conducts a survey of its shoppers about the layout of the stores in the mall. Raffle tickets are handed out at each entrance of the mall. Ninety-six (96) of the raffle tickets were randomly selected and marked ahead of time. The customers who got the marked tickets are to be surveyed. This scenario is an example of 'simple random sampling'.
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Need help ASAP! Tyyyyyy
Answers
This is a question on Entrepreneurship. The two sectors where Mama Meals plays are:
Was it a mistake for her not to have had a business plan?
Yes. Business plans are essential for laying out the long-term goals of a business.
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1. Why is career education so important for teens?