Top Management Attempts to Gain a Competitive Advantage by Asking

question 38

Multiple Choice

Top management attempts to gain a competitive advantage by asking all of its managers to communicate with each other about how the organization can best respond to changing customer preferences. The organization is focusing primarily on ________.

• A) responsiveness
• B) efficiency
• C) quality
• D) cost control

Appreciate the legal and social responses to gender-based discrimination and harassment.

Describe the psychological processes leading to ethical violations.

Recognize the importance of ethical behavior and management's role in promoting it.

Understand the impact of organizational culture on ethical and unethical behaviors.

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Definitions:

Marginal Analysis

An examination of the additional benefits of an activity compared to the additional costs incurred by that same activity.

Maximize Profits

The process by which businesses aim to achieve the highest possible profit through revenue maximization and/or cost minimization strategies.

Minimize Losses

Minimize losses refers to strategies or actions taken by businesses and investors to reduce financial losses or the negative impact of less successful investments.

Marginal Cost (MC)

The cost of producing one additional unit of output.