When Considering Whether or Not It Is Worthwhile to Commence

question 57

Multiple Choice

When considering whether or not it is worthwhile to commence an action or lawsuit,a prudent business manager must consider

• A)the staggering costs of the litigation,even if winning appears to be a certainty.
• B)that even if winning appears to be a certainty,it may be impossible to collect any money from the defendant.
• C)that there is always a risk of losing and having to pay the legal costs of the other party.
• D)that even if winning appears to be a certainty,the litigation may take up a huge amount of the business manager's time,which would be better spent concentrating on the business.
• E)all of the above

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Definitions:

Upstream Costs

Expenses incurred in the early stages of a product's life cycle, such as exploration and development costs in the oil and gas industry.

Downstream Costs

Costs incurred after the production process, including distribution, marketing, and customer service expenses.

Business Process Re-engineering

The fundamental rethinking and radical redesign of business processes to achieve dramatic improvements in critical measures of performance such as cost, quality, service, and speed.

Work Flow

Work Flow is the sequence of processes through which a piece of work passes from initiation to completion, often in a business or manufacturing context.