1) Processes are defined as the

Multiple Choice

manner in which decisions are made and work is performed within the organization.

norms and value systems that are shared among employees of an organization.

metrics used to measure the performance of subunits.

metrics used to make judgments about how well managers are running the subunits.

devices used to reward appropriate managerial behavior.

2) Of all the value creation activities in a firm, __________ is concerned with the design of products and production processes.

Multiple Choice

production

logistics

human resources

marketing and sales

research and development

3) Rugs and More Inc. believes that by producing its products in Mexico, the company can take advantage of lower wage rates in that country. By pursuing such a strategy, Rugs and More hopes to realize

Multiple Choice

economies of scale.

a position inside the efficiency frontier.

location economies.

the experience curve.

demographic advantages.