When Holiday Inn Decided to Create a New Version of Their

question 143

Multiple Choice

When Holiday Inn decided to create a new version of their traditional hotel chain called Holiday Inn Express,they recognized that consumers were concerned about obtaining the best quality for a given price.This concept is known as:

• A)price matching
• B)value consciousness
• C)value purchase
• D)value business model

Understand the role of integrity and loyalty in adhering to ethical principles in business situations.

Comprehend the importance and components of a code of conduct in fostering ethical behavior.

Grasp the significance of corporate responsibility in balancing profit, consumer satisfaction, and societal well-being.

Recognize the legal frameworks, including Sarbanes-Oxley Act, aimed at combating unethical practices in corporations.

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Definitions:

Transaction Costs

Expenses incurred when buying or selling goods and services, beyond the price of the goods themselves.

Sulfur Emissions

Gaseous emissions that include sulfur compounds, primarily sulfur dioxide, resulting from combustion processes and industrial activities.

Coase Theorem

A principle that if private parties can bargain without cost over the allocation of resources, they can solve the problem of externalities on their own, leading to an efficient outcome.

Property Rights

The legal rights to use, control, and derive benefits from a property or resource.