Managers Can Use BI to Answer Tough Business Questions

question 336

Multiple Choice

Managers can use BI to answer tough business questions. Which of the following describes the value of knowing where the business is going?

• A)A historical perspective offers important variables for determining trends and patterns.
• B)Looking at the current business situation allows managers to take effective action to solve issues before they grow out of control.
• C)Setting strategic direction is critical for planning and creating solid business strategies.
• D)None of the above.

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Definitions:

Unemployment Rate

The part of the labor force that is without employment but is actively interested in finding a job.

Full Employment

An economic situation in which all available labor resources are being used in the most economically efficient way.

Production Possibilities Curve

The potential total output combinations of any two goods for an economy.

Production Possibility Curve

A graphical representation showing the maximum combination of goods or services that can be produced with available resources and technology.