One of ValuTech's Objectives for the Year Is to Bring

question 96

Multiple Choice

One of ValuTech's objectives for the year is to bring down the firm's production costs by 5 percent. To meet this objective, managers have suggested the following alternatives:
(1) Use alternate suppliers who can provide raw materials at a lower cost.
(2) Adopt cutting-edge technology that makes the production process more efficient.
-Alternatives to reach an organizational objective are based on assumptions which are called ________.

• A) objectives
• B) missions
• C) goals
• D) premises
• E) priorities

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Definitions:

Median Earnings

The middle value of earnings in a given distribution, where half of the workers earn less and half earn more.

Hispanics

A demographic group often referring to people with cultural ties to Spanish-speaking countries, particularly those from Latin America and Spain.

African Americans

A racial or ethnic group in the United States with ancestry from any of the black racial groups of Africa.

Efficiency Wages

Efficiency wages are higher-than-market wages paid by employers to increase worker productivity, morale, and retention, reducing turnover and shirking.