The Overriding Aim in Building a Management Team Should Be

question 110

Multiple Choice

The overriding aim in building a management team should be to

• A)ensure oversight of every step of the value chain.
• B)assemble a critical mass of talented managers who can function as agents of change, work well together as a team, and produce organizational results that are dramatically better than what one or two star managers acting individually can achieve.
• C)choose managers experienced in gathering competitive intelligence.
• D)select people who have similar management styles, leadership approaches, business philosophies, and personalities.
• E)choose managers who are competent in executing a strategy to keep a company's costs lower than rivals and become the industry's low-cost leader.

Recognize the significance of government spending in B2B markets.

Differentiate between personality characteristics and lifestyle traits in consumer behavior.

Understand the significance of problem recognition in the consumer buying process.

Recognize the importance of evaluative criteria in consumer choices.

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Definitions:

English Auction

A type of auction in which the price starts low and is progressively bid upwards, with the highest bid at the end winning the item.

Rational Self-Interest

The principle that individuals tend to make decisions that maximize their own utility or benefit.

Collude

To conspire or work together secretly, especially in order to cheat or deceive others.

Dutch Auction

A type of auction where the auctioneer starts with a high asking price which is lowered until some participant is willing to accept the auctioneer’s price, or a predetermined minimum price is reached.