Scale economies are efficiencies that result from flattening the hierarchy of an organization
Indicate whether the statement is true or false
FALSE
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Answer the following statements true (T) or false (F)
1. Alison, the director of marketing for a global company, is planning the contributions she and her department will make to the organization over the next 24 months. This type of planning is called operational planning. 2. Paula is the store manager for a national grocery retailer, and she received the yearly tactical plan from Greg, her district manager. Paula is meeting with her department managers to plan how to implement the specific tasks outlined in Greg's plan for the next year. Paula is engaged in operational planning. 3. Goals are arranged in a hierarchy known as a means-end chain because in the chain of management, the accomplishment of high-level goals is the means leading to the accomplishment of low-level goals or ends. 4. Jerome's Italian Pizza is in a very competitive industry, and its upper management believes that it can achieve higher profits by focusing on a strategy of lowering costs and prices, providing quicker delivery, and providing good customer service. "Increase profits by 15% a year for each of the next five years" is an example of a strategic goal.
Which of the following companies is most likely to use job costing for costing their product?
a. An advertising agency b. A confectionary c. A computer manufacturer d. An oil refinery
Ashton borrows $25,000 from Amanda. Amanda lends the money to Ashton without taking an interest in collateral for the loan. Amanda is relying on Ashton's credit standing when she makes the loan. What kind of creditor is Amanda?
A) an unsecured creditor B) a secured creditor C) an administrative claim creditor D) a post-petition creditor
Thomas is the owner of a landscaping company that caters to a very wealthy clientele. His company has struggled to differentiate itself from the other high-end landscapers in the area, but because he has hired several expensive but highly-qualified team members, Thomas is unable to shift to a cost leadership strategy. Which strategy is most likely to achieve a competitive advantage?
A. Narrow the scope of competition and focus on unique features such as the use of organic materials. B. Lower prices but continue employing high-paid expert gardeners. C. Maintain prices but replace all the expert employees with less-skilled workers to control costs. D. Offer similar services as competitors but raise prices to increase profits.