3M Company Executives Were Perplexed When the Company's Scotch-Brite Floor-Cleaning

question 318

Multiple Choice

3M Company executives were perplexed when the company's Scotch-Brite floor-cleaning product initially produced lukewarm sales in the Philippines.A Filipino employee explained that consumers generally clean floors by pushing coconut shells around with their feet.3M changed the shape of the pad to a foot and sales soared.3M changed its product in response to a Filipino __________.

• A)value
• B)belief
• C)custom
• D)idiosyncrasy
• E)demographic pattern

Apply the concept of the expected return to assess potential investment outcomes.

Appreciate the role of the risk premium in evaluating stocks and determining their expected return in relation to risk.

Understand the concepts of fixed and variable costs.

Comprehend capacity planning strategies, capacity measures, and the significance of capacity decisions.

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Definitions:

Net Income

The total profit of a company after all expenses, taxes, and costs have been deducted from total revenue.

Total Liabilities

The sum of all financial obligations a company owes to outside parties, including loans, accounts payable, and any other debts.

IFRS

International Financial Reporting Standards, which are global accounting standards for preparing financial statements, making it easier to compare entities internationally.

Current Liability

An obligation that a company is required to pay off within the current fiscal year or operating cycle, essentially a rephrased definition of current liabilities.