Describe the benefits of a team charter.
What will be an ideal response?
In creating a team charter, not only is the team purpose clarified but the
expectations for behavior are set forth (e.g., required attendance at meetings). Norms
provide an important regulatory function in teams. Once they are developed through a
charter and agreed upon, misunderstandings should be fewer and a team member
violating a norm (e.g., missing meetings) can be reminded of the group’s commitment to
attendance. Some groups even apply sanctions to the violation of norms such as fines
or social ostracism. However, sanctioning systems are ineffective if they are not applied
consistently. Teams that have quality charters and strategies often outperform teams
with poor quality charters and strategies. Charters are an important tool that the leader
must have to get their team off to a good start by developing a sense of purpose and
performance strategies.
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During 2016, the accounts receivable turnover rate for Cordner Company increased from 10 to 14 times per year. Which one of the following statements is the most likely explanation for the change?
a. The company's credit department has followed up with customers whose account balances are past due in order to generate quicker collections. b. The company has decreased sales to its most credit worthy customers. c. The company has increased the amount of time customers have to pay their accounts before they are past due. d. The company has extended credit to more risky customers in order to increase sales.
Briefly describe each step in the consumer decision-making process
What will be an ideal response?
In a buying center, ________ have formal authority and responsibility to select the supplier and negotiate the terms of a contract.
A. adopters B. buyers C. users D. influencers E. gatekeepers
NapTime Inc., a manufacturer of mattresses, gave away a Sheep plush toy to any customer who purchased a mattress from a NapTime dealer. The toy was only available for a limited period. The plush toy is an example of a
A. self-liquidating premium. B. rebate. C. sample. D. coupon. E. free premium.