You Decide That Your Company's Choice of Which New Product

question 16

Multiple Choice

You decide that your company's choice of which new product to manufacture needs to have widespread acceptance and that this decision needs to be of the highest quality possible. Having read the literature on decision making, you believe that this choice needs to be made by a group of your best managers. You have decided to use the nominal group technique. Which of the following statements is true about this method?

• A) This method is good for building group cohesiveness.
• B) This method is good for processing ideas rapidly.
• C) This method is good for encouraging independent thinking.
• D) This method is not an inexpensive means for generating a large number of ideas.
• E) This method is good for achieving commitment to a solution.

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Definitions:

Total Profits

A rephrased definition would be: The cumulative financial gain a company achieves after deducting all operational, production, and overhead costs from its revenue.

Demand

The total quantity of a good or service that consumers are willing and able to purchase at a given price level in a given period.

Network Design Decisions

Strategic choices made regarding the layout and functioning of a supply chain network, including locations of facilities and distribution routes.

Supply Chain Configuration

The arrangement and integration of the supply chain's various components, including suppliers, production facilities, distribution centers, and customers, to maximize efficiency and effectiveness.