Which of the Following Statements Is True

question 195

Multiple Choice

Which of the following statements is true?

• A) Input prices are one of the success factors that firms can control.
• B) Consumers will buy a product only if its price is below that of its competitors.
• C) Consumers will buy a product only if it meets a need not met by competing products.
• D) Sheer chance can play a significant role in the success or failure of a business.

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Definitions:

Human Resource Forecasting

The process of predicting an organization's future human resource needs based on current data and trends to ensure it meets its objectives with the right number of employees having the necessary skills.

Organizational Competencies

The combination of skills, knowledge, and behaviors that are critical for an organization to achieve its goals and be successful.

Core Capabilities

The essential skills, knowledge, and abilities that a company possesses, which give it a competitive advantage in its industry.

Competitive Advantage

The unique attributes or circumstances that allow a company to produce goods or services better or more cheaply than its competitors.