Which of the Following Is Probably NOT a Part of a Situation

question 223

Multiple Choice

Which of the following is probably NOT a part of a situation analysis?

• A) A marketing manager asks a radio station for a copy of an audience study.
• B) A marketing analyst determines from a Census publication how many manufacturers are in the Portland area.
• C) A marketing analyst looks in the Index of Business Periodicals for articles about a large retail chain.
• D) A computer company asks ten lawyers to participate in a focus group on how they use the internet.
• E) All of these alternatives seem to be part of a situation analysis.

Understand how wage rates affect total payrolls and employment in the context of elastic and inelastic labor demand.

Understand the profit-maximizing conditions for employing resources in competitive markets.

Recognize the importance of the marginal productivity of resources in determining resource allocation and production costs.

Understand the relationship between economic profit and cost-minimization/profit-maximization in resource allocation.

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Definitions:

SMART Model

Is an approach to determining effective organisational objectives that requires that they be Specific, Measurable, Actionable, Reasonable, and Timetabled.

Objectives

Specific, measurable goals that an individual or organization aims to achieve.

Timetabled

Scheduled or planned in a structured timetable, indicating when certain events, activities, or actions are to occur.

Problem-solving

The process of identifying a problem, devising alternatives for dealing with it, and then selecting and implementing one of those alternatives in order to reach a solution.