Discuss the similarities between a teen's decision to text-message whilst driving and an executive's decision to not perform routine maintenance in the interest of saving on costs at a plant
Students should note that both are self-interest decisions – you get the message done when you want and saving on costs means more money for everyone including you. However, neither decision takes into account the effects on others who are on the road or in the plant – the stakeholders in your decision whose safety and well being are affected by your self-interest decision, which is really more of a selfish decision. There are also long-term implications of the decision in terms of personal and company costs. The text messaging seems like a personal and trivial case, but students should realize that the same thought processes apply at the very highest levels of business. Also, both feel there is little risk and that they overestimated their ability to handle the situation with care.
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A. product, price, production, and place. B. prediction, production, pricing, and promotion. C. product, price, promotion, and place. D. priorities, personnel, placement, and profits. E. predict, produce, package, and persuade.
________ encompass sales forecasting, production planning, and inbound materials transportation
A) Market logistics B) Containerization C) Transportation D) Nonstore retailing E) Wholesaling
Why is the ability to conduct and participate in meetings a crucial management skill?
Dekak Motors, a car manufacturer, launches a new car that is priced much lower than other cars in the same segment. The firm is able to keep costs down by eliminating processes that do not add value to the product and by employing skilled workers who can perform multiple tasks. From the given information, it can be inferred that Dekak Motors most likely _____.
A. uses a traditional assembly line B. has a fixed position layout C. carries a large inventory of raw materials D. uses lean production