Scenario 1-2

question 24

Multiple Choice

Scenario 1-2. Franky Ferguson has just reached a turning point in his business. He can no longer retain quality employees because he cannot meet his payroll, he does not have an adequate cash flow to pay his current bills, and he is three months behind in his loan payment to the bank. He must close the doors of this business.
-In Scenario 1-2, which of the following are areas should Franky have worked on in order to help ensure the success of his business?

• A) applied for credit for short-term financing
• B) laid off some employees
• C) managing finances
• D) increased his advertising budget

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Definitions:

Product Mix

The variety of different products that a company makes or sells, aiming to maximize profit or market share.

Operations Managers

People in charge of managing, creating, and guiding the workflow and restructuring business activities in the manufacturing of products or services.

Product Opportunities

Potential avenues through which new or improved products can meet market needs, leading to growth and competitive advantage for a company.