The Primary Distinction Between the Production View of the Firm

question 39

Multiple Choice

The primary distinction between the production view of the firm and the managerial view is the additional consideration in the managerial view of

• A) owners and employees.
• B) the environment.
• C) suppliers and customers.
• D) primary versus secondary stakeholders.

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Definitions:

Objective Rating Systems

Systems or methods used to evaluate or assess performance quantitatively, based on impartial and measurable criteria.

Evaluation

The systematic assessment of processes, systems, or organizations to measure performance, effectiveness, or value.

Rating Systems

Mechanisms or scales used to evaluate or grade a certain attribute or performance of entities, products, or services.

Supply Management

The strategic approach to planning, procuring, and managing a company's supplies and vendors to optimize efficiency and minimize costs.