As Environmental Uncertainty Increases, Managers Must Develop Techniques and Methods

question 142

Essay

As environmental uncertainty increases, managers must develop techniques and methods for collecting, sorting through, and interpreting information about the environment. Discuss four of these methods, explaining when and why each would be used.

---

Definitions:

Price-Setting Process

The method or strategy used by a company to determine the selling price of its products or services.

Chowchow

A type of pickled relish made from a mixture of chopped vegetables, commonly used as a condiment.

Cost-Volume-Profit

An accounting technique used to determine how changes in costs and volume affect a company's operating income and net income.

Price-Setting Process

The method by which a business determines the price at which it will sell its products or services.