Economies of scale are cost savings that result when an organization is able to use underutilized resources more effectively because they can be shared across several different products or tasks.
Indicate whether the statement is true or false
Question 2Given that multiparty negotiations are complex and present special challenges, what are some of the
strategies negotiators might use to enhance their ability to expand and slice the pie in a multiparty context?
What will be an ideal response?
Question 3Value creation by an organization takes place at three stages: input, conversion, and output. Out of these three stages, only the conversion stage is affected by the environment in which the organization operates.
Indicate whether the statement is true or false
Question 4Entrepreneurship is the process by which people recognize opportunities to satisfy needs and then gather and use resources to meet those needs.
Indicate whether the statement is true or false
Question 5Economies of scope are cost savings achieved when an organization manufactures products in large volumes.
Indicate whether the statement is true or false
Question 6The type of situation in an organization which requires the highest degree of team member interaction is a(n) _____.
a. simple situation
b. interactive situation
c. problem situation
d. complex situation
e. answers c and d only
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