What is the importance of speed in the implementation of a crisis management plan? Provide an example where a swift response helped a firm in the midst of a crisis
What will be an ideal response?
Speed allows a firm to control the message and avoid speculation and exaggeration by the media or consumers. Remember, stories travel at the speed of light these days, and you do not want to have opposing points of view dominating the dialogue on an issue that concerns your company. In 2007, Apple's swift response to the commotion that erupted following a $200 price cut of the formerly $599 iPhone is an example of how getting right on a problem can avert long-term damage to a firm's image and sales. Within twenty-four hours of announcing the price break, Apple CEO Steve Jobs posted a letter to the company's Web site offering a $100 credit to anyone who had paid the top price for the phone. Within days industry pundits were predicting that any backlash would be short-lived. Sales of the iPhone in subsequent years have proven the predictions to be correct.
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At the organization Jim works for, he is repeatedly harassed by the majority of his coworkers. Jim is being
a. bullied. b. mobbed. c. threatened. d. fired.
Discuss whether alternative accounting policies have a systematic effect on security prices and what this implies about the information content of accounting policy changes. Include a discussion of previous research in this area.
What will be an ideal response?
In British business settings, a hard sell is the best approach
Indicate whether the statement is true or false
A production lot size is scheduled when on-hand inventory falls ______.
A. to zero B. below safety stock C. below zero D. below safety stock or below zero