Frank Roberts Recently Has Been Named to Head a Major

question 105

Multiple Choice

Frank Roberts recently has been named to head a major manufacturing plant at Dow Chemical. The plant has had significant increases in inventory and declines in net income over the past two years. Frank's task is to eliminate the excess inventory and return the plant to its previous level of profitability. To begin solving this problem, Frank invites suggestions from line workers, gathers managers from various levels of the plant to brainstorm, and talks with experts in the field of operations management. This step in the managerial decision-making process is known as

• A)identifying the problem.
• B)generating alternatives.
• C)selecting an alternative.
• D)implementing a solution.
• E)performance measurement.

---

Definitions:

Discretionary Income

The amount of an individual's income left for spending, investing, or saving after taxes and personal necessities (like food, shelter) are taken care of.

Gross Income

The total revenue generated from a business's activities or an individual's earnings before any deductions are made for expenses, taxes, or other reductions.

Discretionary Income

Discretionary income is the amount of an individual's income left for spending, investing, or saving after taxes and personal necessities (like food, shelter) are taken care of.

Necessities

Essential items and services required for basic human survival and well-being, such as food, water, shelter, and healthcare.