List and describe the four grand strategies.

What will be an ideal response?


Growth strategy: Using a growth strategy, the company makes aggressive attempts to increase its size through increased sales.
Stability strategy: Using this, the company attempts to hold and maintain its present size or to grow slowly.
Turnaround and retrenchment strategy: This is an attempt to reverse a declining business as quickly as possible.
Combination strategy: Using this strategy, a corporation may pursue growth, stability, and turnaround and retrenchment for its different lines of business or areas of operations.

Business

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The costs and revenues associated with two alternatives are listed below:  Alternative 1 Alternative 2Projected revenue$100,000  $125,000 Unit-level costs 20,000   30,000 Batch-level costs 20,000   25,000 Product-level costs 15,000   15,000 Facility-level costs 10,000   10,000  Which alternative should be selected based on this information?

A. Alternative 1 because it has a higher profit. B. Alternative 2 because it has a higher profit. C. Alternative 1 because it has fewer unit-level costs. D. Alternative 2 because it has the same product- & facility-level costs.

Business

Durable goods are also known as soft goods

Indicate whether the statement is true or false

Business

In order to prevent discrimination against applicants of protected classes, your colleague decides to note the protected class characteristic of the applicants on their applications. What would be your advice to her?

a. It's a good idea. Noting the protected class characteristic of the applicant on the application which make sure that the firm takes extra care not to discriminate against these applicants. b. It's NOT a good idea. Noting the protected class characteristic of the applicant on the application could be construed as discriminatory. c. As long as you do it in pencil, then erase it after you've made your hiring decision, you'll be okay. d. None of these

Business

A regression analysis between demand (y in 1000 units) and price (x in dollars) resulted in the following equation: y = 9 ? 3x The above equation implies that if the price is increased by $1, the demand is expected to _____

a. increase by 6 units b. decrease by 3 units c. decrease by 6,000 units d. decrease by 3,000 units

Business