The Failure of NASA's Initial Solution to Preventing the Space

question 63

Multiple Choice

The failure of NASA's initial solution to preventing the space shuttle shedding foam illustrates:

• A) the importance of training employees on new business processes.
• B) the need to prepare for measuring outcomes of a business solution.
• C) the continuous nature of problem solving.
• D) the need to quickly adapt to new technological innovations.
• E) the importance of organizational change in problem solving.

Understand the impact of futures markets on spot markets and vice versa.

Understand the taxation and accounting for futures trading gains and losses.

Distinguish between contango and backwardation in futures markets.

Understand the concept and utility of market-product grids in market segmentation and targeting.

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Definitions:

Variable Costs

Costs that vary directly with the level of production or the volume of services rendered, such as materials and labor.

Fixed Costs

Expenses that do not change with the level of goods or services produced by a business.

Profit

The financial gain realized when the amount of revenue gained from a business activity exceeds the expenses, costs, and taxes needed to sustain the activity.

Positioning Strategy

A marketing strategy that aims to establish a brand or product in the mind of the target audience relative to competitors.