FindFor Inc

question 110

Multiple Choice

FindFor Inc.is an e-commerce retail firm that sells a variety of merchandise online.Through services like cash on delivery,easy return,and online tracking,the company has created more customer value than its competitors (brick-and-mortar businesses) at the same price.Also,the company's costs are substantially low due to minimal investment in operation and administration.In this scenario,FindFor Inc.has most likely been able to provide superior value and cost control through

• A) strategic parity.
• B) strategic profiling.
• C) strategic liquidation.
• D) strategic positioning.

Understand the various stages of the rational decision-making process and challenges at each stage.

Appreciate the importance of framing and presentation in decision-making.

Explain the role of shortcuts and assumptions in improving decision-making efficiency while recognizing their potential pitfalls.

Understand the relevance and contributions of Herbert Simon’s work to the field of decision-making.

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Definitions:

Petroleum

A natural, flammable liquid found beneath the Earth's surface that is refined into fuel and various chemical products.

Run Out Of Oil

A hypothetical scenario in which the world's reserves of petroleum are depleted, leading to potential energy crises.

Natural Resource Economics

A branch of economics that studies the optimal use and management of natural resources.

Harvesting

The process of gathering ripe crops from the fields, or in a broader business context, the act of capturing value from a business initiative or venture once it has matured.