In Practice, the Cost-Minimization Strategy Can Be More Expensive Than

question 56

Multiple Choice

In practice, the cost-minimization strategy can be more expensive than the opportunity-maximization strategy.Which of the following is a way in which the cost-minimization strategy is LESS expensive than the opportunity-maximization strategy?

• A) Loss of unexpected opportunities
• B) Cost of extensive monitoring mechanisms
• C) Costs of writing detailed contracts
• D) Prevention of opportunistic behavior by the partner(s)

Understand the significance of social control mechanisms within communities.

Grasp the methodologies for community needs assessment including the social indicators approach.

Acknowledge the complexities and strategies associated with large system interventions and organizational/community change.

Understand the Generalist Intervention Model (GIM) and its application in macro practice.

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Definitions:

Loyalty Programs

Marketing initiatives designed to reward and thereby retain customers by offering benefits (such as points, discounts, or rewards) for frequent purchases or engagement.

Reward Programs

Loyalty schemes designed by businesses to incentivize and retain customers by offering them benefits for repeated purchases or engagements.

Sales Promotion

A marketing strategy involving the use of short-term incentives to encourage the purchase or sale of a product or service.

A Sample

A portion or subset of a larger group or dataset, selected for analysis or observation of the whole.