Which of the Following Is Necessary for Local Responsiveness to Effectively

question 85

Multiple Choice

Which of the following is necessary for local responsiveness to effectively increase a firm's competitiveness?

• A) Local managers need to be able to make decisions based on local needs.
• B) Corporate executives must standardize marketing and merchandising.
• C) Employees must be hired and trained only within a local region.
• D) A firm's bankers and financial managers must be locally based.

Distinguish between movements along supply/demand curves and shifts of the curves.

Recognize the impact of input costs on the supply of products.

Analyze the effect of changes in supply and demand on equilibrium price.

Identify the role of expectations and number of suppliers on market supply.

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Definitions:

Maslow's Needs Hierarchy

A theory in psychology proposed by Abraham Maslow, suggesting that people are motivated by five levels of needs: physiological, safety, love/belonging, esteem, and self-actualization.

Physiological And Safety

Referring to the basic needs outlined in Maslow's hierarchy, including physical well-being and security from physical danger.

Herzberg

Refers to Frederick Herzberg, a psychologist known for his theory on job satisfaction and motivation, distinguishing between hygiene factors and motivators.

Motivates Employees

The process or actions taken to inspire and encourage workers to achieve their best performance and meet organizational goals.