Typically,large Retail Chains

question 16

Multiple Choice

Typically,large retail chains:

• A)are completely decentralized.
• B)are very flexible in their responses to the unique needs of their local markets.
• C)have less sophisticated analytical systems than other forms of ownership.
• D)effectively negotiate lower prices because of their buying power.

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Definitions:

Management By Objectives

A management strategy model designed to enhance an organization's efficiency through the establishment of clear goals mutually agreed upon by both managers and staff.

Staff Planners

Individuals or teams responsible for developing, organizing, and coordinating plans and schedules for the workforce.

Planning Function

An essential management activity that involves setting objectives and determining the best course of action to achieve them.

Benchmarking

The practice of measuring the performance of a company's products, services, or processes against those of another business considered to be the best in the industry.