Tina's Strategy Involved a Long-Term Plan to Introduce Advanced Technology

question 47

Multiple Choice

Tina's strategy involved a long-term plan to introduce advanced technology which would enable the organization to obtain a new structure with less people.However,the general attitude toward the approach was negative and it was difficult to train people in the new skills which they needed.Which of the following types of change is most needed by the organization?

• A) strategy
• B) structure
• C) technology
• D) people

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Definitions:

Profit-Maximizing Price

The price at which a firm can sell its product to achieve the highest possible profit.

Panel

A group of individuals selected to participate in a discussion or to provide feedback on specific topics, often utilized in research studies or television programs.

Monopolistic Competition

A market structure characterized by many firms selling products that are substitutes but differentiated from each other in some way.

Demand Curve

A graph showing the relationship between the price of a good and the quantity of that good that buyers are willing to purchase at various prices.