Examlex

Solved

A Biscuit Shop in a Shopping Centre Is Open from 9

question 144

Essay

A biscuit shop in a shopping centre is open from 9 a.m. to 5 p.m., Monday to Friday. The cost of making and selling biscuits averages $0.50 per biscuit. At 5 p.m. on Friday evening, the owner still has several dozen unsold biscuits. The biscuits will not be saleable on Monday. What is the best price strategy for the biscuit shop to take? Justify your answer.


Definitions:

Clarity of Organizational Plans

The clear and understandable presentation of strategies and objectives by an organization.

Availability of Performance Feedback

The extent to which individuals can obtain information about the quality and effectiveness of their work performance.

Path-Goal Theory

A leadership theory that suggests the leader's job is to assist followers in attaining their goals and to provide direction or support needed to ensure that their goals are compatible with the objectives of the group or organization.

Substitutes for Leadership

Situational factors that diminish the importance of leadership by providing guidance or motivation to group members, making direct leadership less necessary.

Related Questions