The Approaches and Activities of Managers in Short-Run and Long-Run

question 81

Multiple Choice

The approaches and activities of managers in short-run and long-run planning and control decisions that increase value for customers and lower costs of products and services are known as ________.

• A) value chain management
• B) enterprise resource planning
• C) cost management
• D) customer value management

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Definitions:

Negotiation

Negotiation is a dialogue between two or more parties aimed at reaching a mutually beneficial outcome or resolving a disagreement.

Valid Contract

A legally binding agreement between parties that meets all requisite legal elements, such as offer, acceptance, consideration, and mutual consent.

Counteroffer

A reply to an offer in which the original conditions are modified, effectively rejecting the initial offer and presenting a new one for consideration.

Offer Termination

the revocation, rejection, or expiration of a proposal before it is accepted, which effectively ends the offer and prevents it from becoming a binding contract.