As Far Back as 2004,a Management Issues Survey Conducted by the CME

question 17

Multiple Choice

As far back as 2004,a Management Issues Survey conducted by the CME revealed that 42 percent of respondents believed limited availability of skilled and experienced personnel would be a strategic issue changing fundamental business practices over the next five years.All survey respondents agreed that the core competencies required of the manufacturing workforce would change substantially,and by the year 2020 would include all the following key skills except:

• A)A mix of creative problem-solving capabilities,technical know-how,and business skills,as well as an ability to interact with colleagues and customers.
• B)A higher degree of technical and technological expertise as production systems become more automated and interconnected,and as workplaces incorporate advanced technologies such as nanotechnology,biotechnology,microelectronics,and robotics.
• C)A high degree of skilled workers that can be applied to all areas of business as they will have a more well-rounded business education.
• D)Multilingual and multicultural skills,as business operations expand on a more global basis.

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Definitions:

Marketing Decision

The choice made by a business regarding various aspects of marketing such as product development, pricing, promotions, and distribution channels to achieve specific objectives.

Decision Process

The cognitive process that involves making a selection among multiple alternatives, typically followed in problem-solving or choosing between options.

Environmental Scan

The process of systematically examining external and internal environments to identify opportunities, threats, trends, and strategic uncertainties.

Direct Forecast

A method of predicting future values such as sales or trends by directly analyzing specific variables or indicators.