Many companies are beginning to realize that they are not really market and customer driven, they are product and sales driven. In the attempt to transform themselves into true market-driven companies, firms are required to change
Describe and explain what changes are necessary.
To be truly market-driven, companies need to develop a company-wide passion for customers, organize around customer segments instead of around products, and develop a deep understanding of customers through qualitative and quantitative research. Additionally, the organization must be creative; the firm must build capability in strategic innovation and imagination. This capability comes from assembling tools, processes, skills, and measures that let the firm generate more and better new ideas than its competitors.
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One of the most important responsibilities of an employer is the hiring and retention of employees. Which situation below reflects the current market scenario?
a. High turnover, high loyalty b. High turnover, low loyalty c. Low turnover, high loyalty d. Low turnover, low loyalty
Consumers who have no past experience with a product are more likely to judge it by its price
Indicate whether the statement is true or false
Medina Enterprises The following selected financial information is available for Medina for the year ended December 31, 2012. Net sales $450,000 Inventory, 1/1/12 $48,400 Cost of goods sold 299,500 Inventory, 12/31/12 49,670 Refer to the information provided for Medina Enterprises. Calculate Medina's days-in-inventory ratio
A) 58.98 days B) 60.53 days C) 39.77 days D) 59.76 days
Under which of the following do planning tasks associated with job assignments, ordering, job scheduling, and dispatching typically fall?
A) short-range plans B) intermediate-range plans C) long-range plans D) mission-related planning E) strategic planning