Which of the Following Is Necessary for Local Responsiveness to Effectively

question 85

Multiple Choice

Which of the following is necessary for local responsiveness to effectively increase a firm's competitiveness?

• A) Local managers need to be able to make decisions based on local needs.
• B) Corporate executives must standardize marketing and merchandising.
• C) Employees must be hired and trained only within a local region.
• D) A firm's bankers and financial managers must be locally based.

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Definitions:

Chapter 7

A provision of the bankruptcy code in the United States that provides for "liquidation," whereby a debtor's non-exempt assets are sold and the proceeds are used to pay creditors.

Automatic Stay

A self-operating postponement of collection proceedings against a debtor who has filed a petition for bankruptcy.

Collection Proceedings

The legal process initiated by creditors to recover money owed by a debtor.

Means Test

Three steps used to qualify someone for Chapter 7 bankruptcy.