The Components of a Highly Dynamic Environment

question 305

Multiple Choice

The components of a highly dynamic environment

• A)are in a constant state of cyclical change.
• B)remain fairly stable over time.
• C)contain a large number of dissimilar factors that affect an organization.
• D)are in a constant state of unpredictable and irregular change.
• E)are in a static state of unpredictable complexity.

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Definitions:

Price Discrimination

The strategy of selling the same product at different prices to different groups of consumers, based on willingness to pay.

Discount Retailers

Stores that offer products at lower prices by accepting lower margins in return for a high sales volume.

Arbitrage

The practice of taking advantage of price differences between markets to make a profit.

Vertical Contracts

Agreements between firms at different levels in the supply chain (e.g., manufacturer and retailer) to govern the terms of sale or purchase.