Your Company Manufactures Basic Widgets, Modified Widgets Called "Wadgets," and a High-Performance

question 72

True/False

Your company manufactures basic widgets, modified widgets called "wadgets," and a high-performance widget called the "wodget." The industry sales ratio for the three lines are widget-70%, wadget-20%, and wodget-10%. You learn that while your company is selling 70 percent basic widgets, they are still $500,000 under their forecast for this line, while unit volume is right at expected levels (i.e., 100% of quota). This fact suggests they should revise their forecast rather than working harder to sell more widgets.

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Definitions:

Evidence-Based Management

The practice of making managerial decisions and organizational practices based on the best available evidence.

Better Diagnosis

Improved identification and understanding of problems, conditions, or diseases through more accurate, thorough, or advanced methods and technologies.

Meaningful Context

The importance of ensuring that the environment or situation in which information is presented is relevant and significant to the audience.

Data

Factual information, often structured in numbers, text, or images, used as a basis for reasoning, discussion, or calculation.