Alfred Zeien, Former Chairman of Gillette, Once Noted That His

question 70

Multiple Choice

Alfred Zeien, former chairman of Gillette, once noted that his company's Parker Pen unit does not have to develop a special model for Malaysia and Singapore because shoppers worldwide seek the same things when buying a gift that will serve the recipient as a status symbol. This insight relates to which level of Maslow's hierarchy of needs?

• A)physiological
• B)safety
• C)social
• D)esteem
• E)self-actualization

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Definitions:

Setup Equipment Costs

The initial costs associated with purchasing and installing new equipment or machinery for use in operations.

Shortage Cost

The costs incurred when demand for a product exceeds the supply, including potential lost sales, customer dissatisfaction, and additional operational costs to manage the shortage.

Investment In Inventory

The resources allocated by a business to purchase goods and materials held in stock for the purpose of resale or production.

Flexible Policy

A strategy allowing for adaptable operational or financial decisions based on changing circumstances, often to mitigate risks or seize opportunities.