Use the Following to Answer the Questions

question 17

Multiple Choice

Use the following to answer the questions.
A new U.S.automobile company,Specialty Motors,was established in 2004.In 2008,a recession caused disposable income to decline,and the annual amount of dollars spent by consumers for automobiles dropped drastically.Specialty Motors faced the problem of trying to determine whether the economy would turn toward prosperity or toward depression.No matter what happened,Specialty Motors was also worried about an impending global steel shortage,which would make a big difference in its future marketing plans.The economy might recover from the recession,but the automobile makers might be forced to ask consumers to curtail consumption just when the hope of a better year was finally in sight.All in all,the future looked dismal for Specialty Motors.
-Refer to Scenario 3.2.In what type of competitive structure is Specialty Motors operating?

• A) Monopoly
• B) Oligopoly
• C) Monopolistic competition
• D) Perfect competition
• E) Monopsony

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Definitions:

Lewin's Change Model

A framework for managing change in organizations, consisting of three stages: unfreezing, changing, and refreezing.

Status Quo

The current situation or the existing state of affairs, often used in the context of maintaining the same conditions without change.

Rationale

The underlying reason or explanation for something, often presented as a logical argument.

Organizational Development Model

A strategic, evidence-based approach aimed at improving an organization's effectiveness, health, and capacity for change through interventions in its processes, practices, and structures.