Which One of the Following Is an Example of a Strategic

question 270

Multiple Choice

Which one of the following is an example of a strategic option?

• A) Opening a new store with a totally new retail design concept to determine if the plan will be well received by consumers.
• B) Halting production for one week due to slower than expected sales.
• C) Stopping a five-year project after six months due to a lack of consumer demand.
• D) Deciding to only open 5 new retail outlets instead of the 10 outlets that were planned.
• E) Deciding to change the manufacturing process half way through a project.

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Definitions:

Random Sample

A method of selecting a sample from a population in which each individual has an equal probability of being chosen, ensuring the representativeness of the sample.

Research Participants

Individuals who take part in scientific studies, offering their data or responses for analysis in exchange for insights or potential benefits.

Psychologists

Professionals in the field of psychology who study mental processes and behavior in humans and animals.

Representative Sample

A subset of a population that accurately reflects the larger group, used to make inferences about the population's characteristics.