Discuss any three independent strategies that a firm may use as a proactive response to its environment.
What will be an ideal response?
A company uses independent strategies when it acts on its own to change some aspect of its current environment. The three independent strategies are as follows: Competitive aggression means exploiting a distinctive competence or improving internal efficiency for competitive advantage (e.g., aggressive pricing and comparative advertising). Competitive pacification is the independent action to improve relations with competitors (e.g., helping competitors find raw materials). Public relations refers to establishing and maintaining favorable images in the minds of those making up the environment (e.g., sponsoring sporting events).
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As a bond's price increases, its yield to maturity decreases
Indicate whether the statement is true or false
All of the following are benefits of using models for decision support EXCEPT
A) it is easier to manipulate a model than a real system. B) you can find out probable outcomes of an action before actually taking it. C) using well-designed models always guarantees you success in implementation. D) the cost of a model is usually much lower than manipulating the system in implementation.
Home buyers need to have extensive knowledge about the local housing market because:
A) people can only control the land that they own. B) the school district matters even if they do not have children. C) the more knowledge they have, the better positioned they are to get the best deal. D) they want to know about all of the various communities in their area. E) All of the answers are correct
When a histogram is negatively skewed, it ________
A) is symmetrical B) tails off to the left C) has a slope lesser than one D) tails off to the right