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Dramatic Expressions
Dramatic Expressions is a home decorating company that sells many different household accessories ranging from candles to entertainment centers. Wanda is the CEO of the company. She feels that there is not enough specialization within the company and wants to organize the business in a different way. Wanda thinks that the company would be more effective if it were to switch to a new way of organization. For example, there could be a manager in charge of the candles, a different manager in charge of the entertainment centers, and so on.
Another issue that Wanda wants to resolve is that of delegation. She believes that if she could improve her delegating, employees would feel more empowered and want to go above and beyond what they are required to do. There are certain reasons that Wanda has a hard time delegating to others, but she is confident that the problem will be overcome if she works on it.
-Refer to Dramatic Expressions. What could be a possible reason for Wanda not wanting to delegate work?
Elastic
Refers to a market for a product or service that is price sensitive; that is, relatively small changes in price will generate fairly large changes in the quantity demanded.
Specific Brand
A particular brand that is identified by its unique name, symbol, or design, used to distinguish it from other brands within the same category.
Deodorant
A personal care product applied to the body to prevent or mask odor caused by the bacterial breakdown of perspiration.
Competitor-Oriented Pricing
A pricing strategy where a company sets its prices based on competitors' prices rather than solely on its own costs or consumer demand.
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