The Bargaining Power of an Industry's Suppliers Is Greater When

question 14

Multiple Choice

The bargaining power of an industry's suppliers is greater when:

• A) the supply industry is fragmented.
• B) switching costs are minimal for companies because of little difference among products offered by different suppliers.
• C) the industry buys in large quantities.
• D) the product that suppliers sell has many substitutes and is not vital to the companies.
• E) the industry is not an important customer to the suppliers.

Identify persuasive techniques and their psychological underpinnings.

Understand the role of cognitive dissonance in attitude and behavior change.

Explain the impact of close relationships on personal attitudes and behaviors.

Distinguish between the central and peripheral routes to persuasion and their effectiveness.

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Definitions:

Conflict Of Interest

A situation in which a person's private interests might interfere, or appear to interfere, with their professional responsibilities or duties.

Full Disclosure

This principal mandates that all pertinent and significant information must be revealed in financial reporting or in transactions to ensure transparency and fairness.

Executive Committee

A smaller group of decision-makers within a larger organization or board, tasked with managing various aspects of the organization's operations.

Publicly Held Corporation

A corporation whose shares are publicly traded in securities markets, such as the New York Stock Exchange or the NASDAQ.