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:

Novation

The act of replacing one obligation with another, essentially altering the parties, terms, or obligations of a contract.

Quilt

A multi-layered textile traditionally composed of a woven cloth top, a layer of batting or wadding, and a woven back, usually stitched together.

Sew

The process of joining or attaching materials together primarily using a needle and thread by hand or with a sewing machine.

Objective

A specific goal or target that is defined and measurable.