The Concept of _____ Refers to the Idea That Businesspeople

question 81

Multiple Choice

The concept of _____ refers to the idea that businesspeople should consider the social consequences of economic actions when making business decisions,and that there should be a presumption in favor of decisions that have both good economic and social consequences.

• A)corporate governance
• B)class consciousness
• C)affirmative action
• D)social responsibility

---

Definitions:

Technical Sophistication

The level of advanced technical knowledge and capability incorporated into products, processes, or services.

Complexity

A characteristic of systems or situations that involves multiple interrelated parts, making them difficult to understand, predict, or manage.

Product Life Cycle

A model that describes the stages a product goes through from its introduction to the marketplace until its decline and eventual withdrawal. These stages typically include introduction, growth, maturity, and decline.

Promotional Mix

The blend of different marketing strategies (advertising, sales promotion, public relations, personal selling, and direct marketing) used to achieve marketing goals.