A Manager Who Chooses the Wrong Goals for the Organization

question 70

Multiple Choice

A manager who chooses the wrong goals for the organization and makes poor use of the organization's resources in pursuing these goals is said to have:

• A)low effectiveness
• B)low efficiency
• C)low effectiveness but high efficiency
• D)high effectiveness but low efficiency
• E)both low effectiveness and low efficiency

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Definitions:

Market Model

A theoretical construct that describes the structure, behavior, and dynamics of a market to analyze and predict outcomes.

Differentiated Product

A product that distinguishes itself from similar products in the market through unique characteristics, branding, or quality, allowing it to compete not solely on price.

Market

A place or system in which buyers and sellers interact to trade goods, services, or securities, affecting their prices through supply and demand.

Monopolistic Competition

A market structure where many companies sell products that are similar but not identical, allowing for some degree of market power.