A Chart Representing the Components of Organizational Buying Culture

question 40

Multiple Choice

A chart representing the components of organizational buying culture


-In an autocratic buying centre, there are multiple participants:

• A)but the decision of the majority will be the final decision.
• B)but one person makes the final decision without receiving input from others.
• C)and one person influences the views of the other participants in making the final decision.
• D)and all the participants must reach a collective agreement to make a final decision.
• E)but one person makes the final decision after receiving input from others.

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Definitions:

Industry Exit

The process by which firms leave a market or sector, often due to economic pressures or declining profitability.

Economic Profit

calculated as the difference between a firm's total revenue and its total costs, recognizing both explicit and implicit costs, emphasizes a firm's real financial health.

Monopolistically Competitive Firm

A firm that operates in a market structure characterized by many firms selling products that are similar but slightly differentiated, leading to some degree of market power.

Perfectly Competitive

A market structure characterized by a large number of buyers and sellers, homogenous products, free entry and exit, and perfect information.