According to the Satisficing Model of Management Behavior, the Goal

question 18

Multiple Choice

According to the satisficing model of management behavior, the goal of a firm is to:

• A) satisfy customers, employees, and shareholders.
• B) maximize the gain to society and not just to shareholders.
• C) achieve a satisfactory level of performance against a benchmark.
• D) maximize sales revenue and not necessarily the value of the firm.
• E) maximize its market share even at the cost of profit.

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Definitions:

Maintenance

The process of preserving a condition or situation or the process of keeping equipment or systems operational and in good working condition.

Staffing Budget

A staffing budget outlines the financial resources allocated for hiring and compensating employees within a specific time period.

Nonmanufacturing Businesses

Companies that do not produce physical goods, focusing instead on services, retail, distribution, and other non-manufacturing activities.

Operating Expenses Budget

A financial plan detailing the forecasted expenses required to manage and administer a business outside of direct production costs.