A hike in prices of petroleum by the Gulf countries results in a drop in sales of a certain
petroleum-based skin care product. The influence of which of the following market forces is
most evident in this case?
A) threat of entry B) bargaining power of suppliers
C) intensity of rivalry D) pressure from substitute products
B
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Answer the following statements true (T) or false (F)
1. Joe, a plant manager, wants to institute a compensation system in which more efficient workers earn higher wages. Joe is proposing to institute a differential rate system. 2. The Hawthorne studies succeeded in drawing attention to the importance of "social man" and how managers using good human relations could improve worker productivity. 3. Olde Manufacturing, a parts supplier to the auto industry, has been using the behavioral approach to management for over 100 years. However, since that method of management is too simplistic for practical use, Olde should begin implementing the newer and more sophisticated human relations movement approach to management, which is the most contemporary approach to management. 4. Behavioral science relies on data from past sales to forecast human behavior to develop strategic plans and goals. 5. When the Americans entered World War II in 1941, they used the British model to form operations research teams to determine how to deploy troops, submarines, and equipment most effectively. These techniques have evolved into quantitative management.
Hunter, an art student, was struck by a debilitating injury. The resulting surgery left him with a shaky hand. Most people thought he’d never make art again. But, he found a way to use the constraints he was left with to his advantage. He came up with the idea for an entirely new style of art, using shaky lines, which he couldn’t help but make. He looked at his “problem” in a totally different way and that made all the difference in his life. The new way of looking at his problem is an example of
a. Creativity b. Innovation c. Prescient d. Vision
A firm that uses data to compare the costs of retaining customers and the costs of acquiring new customers with the goal of determining how much money each type of customer requires is using
A. predictive modeling. B. lifetime value analysis. C. recency-frequency-monetary analysis. D. demographic value analysis. E. customer segmentation analysis.
Bill was shopping at the mall. As he was walking to Tonne's Department Store, his wallet fell out of his pants. While trying on a new suit, Bill left his leather jacket in the change room. Sue found Bill's wallet. Arnie, a sales associate, found his coat. What kind of found property is Bill's wallet? What kind of property is his jacket? What rights do Sue and Arnie have in the found property?