George, the Financial Manager of a Firm, Executes His Tasks

question 63

Multiple Choice

George, the financial manager of a firm, executes his tasks with commitment. He takes his responsibilities seriously. Which of the following characteristics of leaders does George possess?

• A) Adaptability
• B) Empathy
• C) Relationship management
• D) Conscientiousness

Understand the basic business strategies: low-cost, differentiation, and focused.

Identify the impacts of over-differentiation on an organization's resources.

Recognize the risks and disadvantages associated with focused and low-cost strategies.

Understand how organizations apply differentiation strategies to stand out from the competition.

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Definitions:

Capital

Financial assets or the financial value of assets, such as cash and securities, used to fund a business or generate wealth.

Diminishing Marginal Returns

The principle that as additional units of a factor of production are added to a fixed amount of other factors, the increase in output will eventually decrease.

Quantity of Capital

The total volume of physical assets, such as machinery and buildings, used in the production of goods and services.

Output Per Worker

The quantity of goods or services produced divided by the number of workers, indicating the productivity level of labor within an economy.