In Order to Develop a World-Class Capability,a Company Should First

question 107

Multiple Choice

In order to develop a world-class capability,a company should first

• A)strive to win market share for specific products.
• B)purchase more capital assets to improve profits.
• C)hire more people in anticipation of economic downturns.
• D)commit to excellence and leadership in capabilities.
• E)be maintaining and growing the stock price.

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Definitions:

Diminishing Marginal Utility

A principle stating that as a consumer consumes more of a good or service, the utility (satisfaction) gained from each additional unit decreases.

Supply Curves

Graphical representations that show the relationship between the price of a good and the quantity of the good that producers are willing to supply.

Demand Curves

Graphical representations showing the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase.

Satisfies Consumer Wants

The fulfillment of consumer desires and needs through the provision or consumption of goods and services.