Basing Managerial Decisions on the Best Available Scientific Support Is

question 117

Multiple Choice

Basing managerial decisions on the best available scientific support is called ________.

• A) intuition
• B) organizational process
• C) organizational behavior
• D) evidence-based management
• E) conceptual management

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Definitions:

Product Portfolio

The collection of all products or services offered by a company, encompassing a range of items across different markets or segments.

Economies of Scale

Cost advantages that enterprises obtain due to their scale of operation, with cost per unit of output generally decreasing with increasing scale.

Package Differentiation

The process of designing product packaging in a unique way to make it stand out from competitors and appeal to consumers.

Product Line Extension

The addition of related products to an existing product line to cater to a broader segment of consumers without deviating from the core brand identity.