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Polycentric orientation is the practice of decentralizing marketing, research and development of a multinational company to the local market of a country where its products are being sold, according to BizShifts. In this... More »

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Production orientation is a marketing strategy in which the company focuses on products rather than customers' wants or desires. Two other types of strategies include market orientation and sales orientation. More »

The disadvantages of perfect competition are no scope for economies of scale, lack of product differentiation, reduced research and development expenditures, reduced incentive to develop new technology and the potential ... More »

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According to the Houston Chronicle, the functions of a research and development department are to engage in new product research and development, existing product updates, quality checks and innovation. The functions of ... More »

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Entrepreneurship is important because it results in the creation of employment, improved national income, community development while facilitating research and development. Moreover, entrepreneurship promotes innovation,... More »

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To start a clothing company, decide on a target market, write up a business plan, calculate start-up costs, figure out business policies and a marketing plan, choose a location, and hire employees and suppliers. It is al... More »

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Setting up a security company requires a bit of research and planning to set the groundwork for a successful business, including setting a budget and assessing market conditions. Turning an idea for a business plan into ... More »

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