### Understanding Business Confidence Indices**Question 3:****Why do managers often prefer to use business confidence indices?**- ⃝ a. to identify sociocultural trends- ⃝ b. to encourage customers to make long-term buying decisions- ⃝ c. which are based on intuition and experience- ⃝ d. as predictors of future economic activity when making business decisions- ⃝ e. to improve consumer confidence forecasts**Explanation:**This multiple-choice question explores the reasons why managers favor using business confidence indices. The options provided reflect different potential benefits and applications of these indices. - **Option (a):** Identifying sociocultural trends might be one application, though it might not be the primary reason.- **Option (b):** Encouraging long-term buying decisions can be indirectly influenced by the insights from these indices.- **Option (c):** Business confidence indices are typically data-driven rather than based on intuition.- **Option (d):** This option suggests that indices are used to predict future economic activities, which is a common usage as it helps managers make informed decisions.- **Option (e):** Improving consumer confidence forecasts can help businesses align their strategies with market expectations.When considering the primary reason, the correct choice would likely be:**Option (d).** Business confidence indices are valuable tools for predicting future economic activity, aiding managers in making informed business decisions.

Business confidence indices are frequently used to gauge business optimism in a certain economy or…

Answered: Managers often prefer to use business…

Management, Loose-Leaf Version

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ISBN:9781305969308

Author:Richard L. Daft

Publisher:Richard L. Daft

Chapter7: Planning And Goal Setting

Section: Chapter Questions

Problem 1EE

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