Vancouver Hotels Inc

question 35

Multiple Choice

Vancouver Hotels Inc. ,a large hotel chain with hotels in over 120 cities,routinely feeds its employees the results of customer surveys along with company performance on 12 major dimensions including operating profit and market share.This is an example of:

• A)empowerment
• B)establishing a learning culture
• C)team building
• D)information sharing
• E)behaviour modelling

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Definitions:

Externalities

Externalities are the positive or negative effects of economic activities on third parties that are not reflected in the cost of the goods or services involved.

Golden Rule

A principle denoting the optimal level of saving in an economy that results in the highest possible steady-state level of consumption.

Social Optimum

A condition in which resources are allocated in the most efficient manner, often considered in terms of welfare or utility maximization.

Market Equilibrium

The state in a market where the quantity demanded of a good matches the quantity supplied, leading to a stable price for the good.