At Priceline's Website, Visitors Can Specify the Desired Price They're

question 258

Multiple Choice

At Priceline's website, visitors can specify the desired price they're willing to pay for a hotel in Chicago. Priceline then electronically forwards the price to hotels until one accepts the offer. What pricing policy is Priceline using?

• A) Introductory price
• B) Bundle price
• C) Cash discount price
• D) Quantity discount price
• E) Flexible price

Differentiate between formal and informal organizational structures and their impact on organizational behavior.

Understand that organizational culture can be modified and involves visible aspects like language, stories, rites, rituals, and sagas.

Recognize that innovation and creativity are critical and ongoing processes within successful organizations.

Grasp the basic steps in the process of organizational innovation and differentiate between creativity and feasibility determination.

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Definitions:

Budgeted Volume

The predicted amount of work, sales, or production a company plans to achieve within a certain period, usually used for planning and performance evaluation.

Expected Sales

Projected revenue that a company anticipates earning from the sale of goods or services in a future period.

Ending Inventory

The total value of goods available for sale at the end of an accounting period.

Master Budget

An all-encompassing financial plan for an organization, covering all of its operations and financial activities within a specific period.