is when managers make decisions based on their skills,knowledge & training. *Bounded rationality.Evidence -based management.O Cognitive based decision.Rationality.corporation adapts its products to local market needs; & itdecentralizes management so it adopts polycentric attitude. *Multi-domestic.Global.Multi-national.O Transnational.

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Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Adverse selection and moral hazard are two important concepts we learned in class. (1) Give two specific examples on how to combat adverse selection in an insurance market. (6 points) (2) Briefly explain what is “signaling” (from an economist’s view) and how it may reduce adverse selection. (3 points) (3) Give two specific examples, one on moral hazard related to an insurance market, one on moral hazard not related to insurance markets. (6 points)
IBM is a global company with multiple products and is present in multiple countries. IBM structured its business by appointing a CEO for each country. CEO of a country manages all the products in that individual country and adapts the products and company to the local circumstances. What kind of organization is IBM? Geographic Organization Functional organization Matrix organization Product organization
Put this in other words. Analyze, explain and elaborate. The battlefield of business is fierce, and here, knowledge is undeniably power. Predictive analytics dons the mantle of a spy, infiltrating the strategies of rivals. By analyzing market trends and discerning competitors' moves, organizations gain a tactical edge. This invaluable intelligence fuels the formulation of strategies that tilt the balance of competition.
15) In business the saying of “do not put all your eggs in one basket” refers to: a) Not being dependent on a single business to meet stockholders Expectations b) Not being dependent on a single hierarchical structure c) Implementing multiple strategies at the same time d) A and B e) A and B and C
make this less wordy ). While factors like rising prices, generational inequalities, and proposed government solutions such as utilizing retirement savings or constructing affordable homes capture our attention, they only scratch the surface. To truly tackle this challenging problem, a systemic approach that incorporates systems thinking is necessary.
3.→Find one company that implemented a functional structure within its firm and explain why it chose this structure over another. 4. → What type of company would you rather work for? (divisional or functional structure) and | why? 1
True-False Questions Select the correct answer. 1. T F When buyers, sellers, marketing intermediaries, and facilitating agencies work together, the cooperative relationship results in compromise and adjustments that meet customer needs. 2. T F Under a contractual vertical marketing system, the largest channel member is contracted to manage the production and distribution within the channel. 3. T F Producers assist wholesalers by furnishing them with information regarding the wholesalers' competition and consumer buying patterns. 4. T F As competition among discount stores has increased, some discounters have assumed the characteristics of higher-priced department stores. 5. T F The wheel of retailing hypothesis suggests that new retail operations usually begin at the top-in price, profits, and prestige. Multiple-Choice Questions Circle the letter before the most accurate answer. The use of only a single retail outlet in each geographic area for distribution purposes is called 6.…
Select the best answer for the question. 2. A company has several employment positions that haven't been filled because its employees don't have experience in the roles required to accomplis are hardworking and proud of the company. In this case, which one of the following strategies would be best suited to fill the positions? O A. Outsource the positions to another company. OB. Downsize. OC. Hire exclusively from outside the company O D. Create an intranet to offer in-house training. Mark for review (Will be highlighted on the review page) Previous Question reading assignmen....zip H 0 Next Question >>> ups 13°C M
Pete Fader introduced customer centricity with several examples in practice in his TED talk. Which one of the following statements about the customer centricity and his talk is NOT correct? A) Many firms are seeing customer centricity as a credible and desirable enterprise-wide strategy. B) Customer centricity can be also applied to other areas including new product development, incentivizing salespeople, corporate valuation and healthcare services. C) Customer centricity can be a good supplement and/or alternative for corporate valuation in stock markets: Bringing in some understanding of how customers behave and how they differ from each other and breaking down their behavior into the components of their life time values, we can have a good estimate of the financial value of a company. D) The key to customer centricity is to identify differential values of customers and serve all of the customers equally by paying more attention to less valuable customers.

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