The Faster a Company's Business Environment Is Changing Only Makes

question 10

Multiple Choice

The faster a company's business environment is changing only makes it imperative for strategy makers to:

• A) pay attention to early warnings of future change and be willing to experiment to establish a market position in the future.
• B) stay abreast of the changes by developing a comprehensive knowledge management system to monitor the environment.
• C) establish controls to ensure the impact of any changes is monitored appropriately and ensure the internal environment is maintained.
• D) align their decision-making with organizational unit objectives.
• E) develop financial objectives that reflect the implications of change and that meet the internal environment's functional focus.

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Definitions:

Sweatshop Labor

Work that is performed in poor conditions for low pay and often violates labor laws.

Working Conditions

The environment, terms, and circumstances under which an individual is employed, including hours, physical aspects, legal rights, and responsibilities.

Tariff of Abominations

The nickname given to the Tariff Act of 1828, which imposed high duties on imports and was highly controversial, particularly in the Southern United States, which felt it economically disadvantaged them.

Agricultural Economy

An economy that is largely dependent on agricultural production and the cultivation of crops and livestock.