What Must Managers Be Able to Do to Compete in Today's

question 101

Multiple Choice

What must managers be able to do to compete in today's global marketplace?

• A) Make decisions to gain competitive advantages.
• B) Make decision that can help forecast future business needs.
• C) Make decision that can help forecast future business requirements.
• D) All of these choices are correct.

---

Definitions:

Worst Case Scenario

The most severe or unfavorable outcome that may happen in a given situation.

Expected Value

The average of all possible outcomes of a random variable, weighted by their respective probabilities.

Economic Assumptions

Hypotheses about the future economic condition that are used for planning and budgeting purposes.

Level of Expansion

Refers to the scale and scope of growth activities undertaken by a company to increase its business operations.