Justin MBrown,the Operations Manager at Vernon Manufacturing Company,formulated a Strategy to to Motivate

question 47

Multiple Choice

Justin M.Brown,the operations manager at Vernon Manufacturing Company,formulated a strategy to motivate the firm's employees.Justin addressed employee's dissatisfaction by increasing their salary and incentives; he employed several industrial counsellors to help employees deal with work-related stress,and improved the health insurance plan provided to employees.He also motivated employees by providing greater opportunity for advancement; recognizing employees who perform well; and giving employees greater responsibility to foster a sense of achievement in them.Justin's measures are based on which of the following approaches?

• A) McClelland's three needs theory
• B) Theory X
• C) Theory Y
• D) Herzberg's two-factor theory
• E) scientific management

Understand the structure and behavior of firms in oligopolistic markets.

Comprehend the kinked-demand curve model and its implications for pricing and output decisions.

Recognize the conditions and outcomes of collusive and non-collusive oligopolies.

Assess the impact of rival behavior on a firm’s demand and marginal revenue curves in an oligopoly.

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Definitions:

Attracting New Buyers

The strategies and practices employed by businesses to appeal to and engage individuals or entities that have not previously purchased their products or services.

Repeat Buyers

Consumers who make multiple purchases from the same brand or vendor, demonstrating brand loyalty or satisfaction with the product or service.

Industry Wide Markets

Markets that span across an entire industry, affecting all organizations within that industry.

Low-Cost

Describes products or services offered at a price lower than the market average to attract cost-sensitive consumers.