Which of the Following Techniques Attempts to Optimize a Company's

question 28

Multiple Choice

Which of the following techniques attempts to optimize a company's objective,such as maximizing profits or minimizing costs,given constraints such as scarce productive resources?

• A)optimization model
• B)transportation model
• C)simulations
• D)management coefficient model

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Definitions:

Generate And Exploit

A strategy that involves creating new ideas, products, or processes and making use of them to achieve competitive advantage or market success.

Minimize Or Shed

Strategies employed to reduce, remove, or delegate non-core business activities or assets to focus on primary objectives.

Opportunity-Seeking Processes

The methodologies or approaches used by individuals or organizations to identify and exploit potential opportunities for growth or improvement.

Ownership Mind-Set

A way of thinking characterized by taking responsibility, showing initiative, and actively managing one's assets or area of control.