The 80/20 Rule Suggests That Business Owners

question 80

Multiple Choice

The 80/20 rule suggests that business owners:

• A)try to exercise control 80% of the time over 20% of their inventory.
• B)identify those inventory items that represent the greatest value to the business and focus inventory control efforts on them.
• C)focus on the 80% of their inventory that only produces 20% of their results in order to improve performance.
• D)try to earn 20% more out of the 80% of their inventory that isn't producing.

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Definitions:

Self-efficacy

Self-efficacy refers to an individual's belief in their capacity to execute behaviors necessary to produce specific performance attainments.

Defensive Self-esteem

A form of self-esteem characterized by a fragile sense of self that is highly sensitive to perceived criticism or threat.

Social-cognitive Theories

Theories that emphasize the role of cognitive processes in understanding social behavior, including how we interpret, analyze, and remember information about others and our social interactions.

Psychodynamic Theories

A framework in psychology that emphasizes the role of unconscious processes and childhood experiences in shaping personality and behavior.