Igor's Furniture Has Seen Its Profit Margins Shrink Over the Past

question 55

Multiple Choice

Igor's Furniture has seen its profit margins shrink over the past several years as increased competition has driven down furniture prices. You have been tasked with improving the company's margins. Which of the following approaches makes the most sense within the context of strategic activity systems?

• A) Go against the trend and raise prices.
• B) Install modern manufacturing equipment to improve efficiency.
• C) Increase spending on online marketing efforts.
• D) Focus on imitating the most successful products of competitors.

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Definitions:

Career Consolidation Period

A life stage in which individuals focus on establishing their careers, often prioritizing work achievements and stability.

Tentative Period

A stage in career development where individuals explore various occupational options through coursework, hobbies, or work experiences, typically occurring during adolescence.

Fantasy Period

A developmental stage in career psychology where individuals, typically children, fantasize about careers based on interests with little regard for limitations or requirements.