GK
BUSINESS MANAGEMENT
|
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
|
|
|
when a business creates the efficient production of a specific product or service
|
|
|
business which operates internationally
|
|
|
helps companies determine how to gain a competitive edge and position themselves so customers buy from them, and only them
|
|
|
distinguishes an organization’s product or service from competitors due to certain unique characteristics
|
|
|
demographics, cultural aspects, population growth rate
|
Detailed explanation-1: -Specialization is a method of production whereby an entity focuses on the production of a limited scope of goods to gain a greater degree of efficiency.
Detailed explanation-2: -Specialization Leads to Economies of Scale As labor is divided amongst workers, workers are able to focus on a few or even one task. The more they focus on one task, the more efficient they become at this task, which means that less time and less money is involved in producing a good.
Detailed explanation-3: -Because economic specialization can increase efficiency and productivity, it may help an organization minimize production costs.
Detailed explanation-4: -Labor specialization. Labor specialization is now commonplace in the workplace and is an important part of production. Departmental specialization. Business specialization. Regional specialization. Country specialization. 15-Feb-2021