Identify the Competitive Forces model and three appropriate strategies
What will be an ideal response?
The Competitive Forces model consists of five forces. These include the power of suppliers, the bargaining power of buyers, the threat of new entrants, the availability of substitute products or services, and the intensity of rivalry amongst competitors. Three strategies include being a low cost producer, focusing on a niche, and product or service differentiation.
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Identify the ethical principle that states that managers are responsible for the consequences when they create situations leading to both good and evil effects.
A. The principle of proportionality B. The principle of justice C. The principle of utility D. The principle of equal freedom
Wilma was a member of a production team. Which of the following describes a team Wilma may have been on?
A) Wilma and her team members reported on the backgrounds of three candidates for the position of minister at their church. B) Wilma and her team members flew around the world performing surgery on poor children with facial deformities. C) Wilma and her team members found or created all the images for the books her company published. D) Wilma and her team members met to decide how to configure the office space at the new building her company was moving to. E) Wilma and her team members searched for a new professor to take over a retiring professor's psychology classes at the local university.