Typically, Firms Need a Hierarchy of Objectives

question 249

Multiple Choice

Typically, firms need a hierarchy of objectives. Which of the following best represents a correct hierarchy of a firm's objectives?

• A) Company objectives, sales promotion objectives, marketing objectives, promotion objectives.
• B) Marketing objectives, company objectives, promotion objectives, sales promotion objectives.
• C) Company objectives, marketing objectives, promotion objectives, sales promotion objectives.
• D) Marketing objectives, promotion objectives, sales promotion objectives, company objectives.
• E) Promotion objectives, sales promotion objectives, company objectives, marketing objectives.

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Definitions:

Common Purpose

A shared goal or vision that unites a group of individuals or an organization.

Division of Labor

The allocation of different parts of a manufacturing process or task to different individuals in order to improve efficiency.

Hierarchy of Authority

The structured ranking of positions within an organization, where every level is subordinate to the one above it.

Departmentalization

The method an organization uses to structure itself by dividing responsibilities among different departments or units based on task, function, product, geography, or customer.