Give examples of each of the four primary management activities in the context of a national pizza franchise.
What will be an ideal response?
Examples of the four primary management activities in the context of a national pizza franchise are as follows:
| (a) | Decision making: Choosing among several convenient locations for the new |
| (b) | Planning: Developing a cost budget for the food and paper products to be used by |
| (c) | Directing operations: Developing detailed schedules for personnel for the next |
| (d) | Controlling: Comparing the actual cost of goods sold in the restaurant with the |
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Control that is direct and authoritarian is known as which of the following?
A. simple B. complex C. referent D. loyal
Projecting sales price changes depends on factors specific to the firm and its industry that might affect demand and price elasticity. Which of the following companies would most likely not be able to increase prices in the near future?
a. A firm in a capital intensive industry that is expected to operate near capacity for the near future. b. A firm in a capital intensive industry in which excess capacity exists. c. A firm operating in an industry that is expected to maintain its current production processes. d. A firm operating in an industry that is transitioning from the introduction phase to the high growth phase of its life cycle.
When can an offer be withdrawn or revoked?
A) No less than 10 days after it has been communicated to the other party B) No less than 5 days after it has been made C) No less than 10 days after it has been made D) At any time before it has been accepted E) At anytime
Which of the following is not true regarding a brand extension strategy?
A. Firms must make sure that the extension lives up to the quality consumers expect from the brand. B. A brand extension strategy allows new products to profit from recognition the brand already enjoys. C. A brand extension strategy is the same thing as a product extension strategy. D. It is best to have high brand equity before pursuing a brand extension strategy. E. Brand extensions must be implemented with an eye towards avoiding cannibalization.