Hannah Is the Chief Operating Officer of the Startup AppPalace

question 44

Multiple Choice

Hannah is the Chief Operating Officer of the startup AppPalace. In which of the following scenarios does Hannah exhibit strategic leadership?

• A) Hannah directs the company to produce an app for reptile enthusiasts, a community she happens to be a part of. Even though the app ends up losing significant amounts of money, Hannah is proud of the product and uses it every day.
• B) Citing budget concerns, Hannah ignores the directions from AppPalace's CEO to double the size of the customer support staff. As a result, the company misses its third quarter customer satisfaction target but exceeds its net profit expectations by 5 percent.
• C) Hannah schedules a meeting with the manager of the marketing department and overcomes his skepticism about a new campaign aimed at customers in the 55+ age group. Over the next three months, AppPalace gains 250,000 new users in that group.
• D) With a major pitch to potential investors coming up, Hannah works alone for 10 hours a day until she writes the perfect sales pitch. Even though the rest of her team doubts that they can meet the performance goals Hannah has set, she makes the presentation anyway.

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Definitions:

Normal Good

A normal good is a type of good for which demand increases when income increases, and falls when income decreases but price remains constant.

Income Rises

An increase in the amount of money received by individuals or entities, typically through wages, dividends, or investments.

Elastic Demands

Demand for a product or service that significantly changes in response to price changes, indicating high price sensitivity among consumers.

Luxuries

Luxuries refer to goods or services that are considered non-essential but desirable and are often associated with higher quality and price points than necessities.