The techniques of brainstorming and Blast Then Refine would be helpful to use during which step in the managerial decision-making process?
A) Generating alternatives
B) Implementing the solution
C) Evaluating the outcome
D) Selecting an alternative
E) Identifying the problem or opportunity
Question 2 - The Partnership for 21st Century Skills identified five workplace competencies, including productive use of resources, interpersonal skills, information, systems, and technology.
Indicate whether the statement is true or false
Question 3 - Satellite Communications
Jonathan worked for Satellite Communications for twenty years. In the time that he worked there, he learned a lot about the company and how it operated. The company met its sales and revenue goals every year. However, most of the employees had similar educational and cultural backgrounds. He believed that the company could do much better if it cultivated an environment that promoted many different ideas. Additionally, Satellite Communications was mostly focused on how much revenue it earned in a given year. Jonathan felt that the most important goal should be to satisfy customers. He believed financial success would result from focusing on customers.
After a lot of consideration, Jonathan decided to open his own business called Universal Communications and hire employees that reflected a more diverse customer base. He was happy to have this opportunity because it was a dream that he had always had. He had always wanted to make his own decisions about what his company would produce and how. The only aspect of the business he was unsure of was pricing, yet he knew this would be important for his ultimate success.
Refer to Satellite Communications. Now that Jonathan plans to open his own business, he needs to look at the factors of production. Which of the following is not a factor of production?
A) Labor
B) Capital
C) Machinery
D) Demand
E) Entrepreneurship
Question 4 - Jerry is beginning a marketing research project. One of the six steps of marketing research is to
A) define the problem.
B) engage a marketing research firm.
C) open a business.
D) survey the sales force.
Question 5 - Managers should avoid satisficing in the ____ stage of the managerial decision-making process.
A) selecting an alternative
B) identifying the problem or opportunity
C) implementing and evaluating the solution
D) satisfying the customer
E) generating alternatives
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