Making Formal Statements, Engaging in Rites and Rituals, Utilizing Employee

question 20

Multiple Choice

Making formal statements, engaging in rites and rituals, utilizing employee training and coaching, demonstrating how a leader reacts to a crises, being a role model, and giving rewards, promotions, and bonuses are some of the teaching methods that organizations can utilize to

• A) write a strategic plan.
• B) perform competitive analysis.
• C) effect corporate change.
• D) conduct formal market research.
• E) follow legal requirements.

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Definitions:

Service Level

A measure of the performance of a service system, often defined in terms of responsiveness to customer needs and reliability.

Ordering Costs

The expenses associated with the process of requisitioning, purchasing, and receiving goods and services; includes costs of paperwork, communication, and inspections.

Maintaining Inventory

Activities and strategies involved in keeping an appropriate level of stock to meet demand without incurring excessive holding costs or stockouts.

Shrinkage

The loss of inventory that can result from theft, damage, or errors in the inventory management process.