A Hotel Chain Drastically Reduces the Rates for Its Rooms

question 31

Multiple Choice

A hotel chain drastically reduces the rates for its rooms during Christmas.This is done as part of a promotional offer to try to boost sales.This is an example of:

• A)everyday low pricing.
• B)external reference price.
• C)high/low pricing.
• D)market penetration pricing.
• E)internal reference price.

Grasp the concept and importance of effective conflict management styles in organizational settings.

Identify the categories of communication and the role of non-verbal elements in effective communication.

Recognize the significance of a values-based organizational culture in ethical decision-making and conflict resolution.

Learn about the RADAR model and its application in ethical dilemma management within organizations.

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Definitions:

Activity-Based Costing

A costing method that allocates overhead and indirect costs to specific activities, providing more accurate product costing.

Direct Labor Rate

The cost of the work done by those employees who directly manufacture the products, usually measured per hour.

Direct Materials Cost

The expense associated with acquiring raw materials that are directly utilized in the manufacture of goods.

Traditional Costing

Traditional costing is an accounting method that allocates manufacturing overhead based on volume-related measures, such as direct labor hours or machine hours.