According to the classical decision model, decision makers

a. have complete information about the decision situation.

b. are prone to error even in seemingly certain conditions.

c. choose solutions that are in their personal best interests.

d. are not able to eliminate uncertainty.

e. never make errors even under uncertain conditions.

Supertech Inc. is a large firm that manufactures gadgets and mobile phones. The company sells a line of inexpensive mobile phones exclusively targeted at youth and teenagers in Selenasia. Which of the following strategies is illustrated in the scenario?

a. Focus strategy

b. Divesting strategy

c. Restraint of trade strategy

d. Differentiation strategy

e. Anti-competitive strategy

The starting point in formulating strategies is usually

a. deskilling.

b. contingency analysis.

c. SWOT analysis.

d. divesting.

e. resource deployment

An organizations _____ is a statement of its fundamental, unique purpose that sets a business apart from other firms of its type and identifies the scope of the businesss operations in product and market terms.

a. statement of qualification

b. article of incorporation

c. mission

d. tactical plan

e. operational goal

During the introduction phase of the product life cycle

a. companies must sacrifice product quality.

b. sales volume is the highest.

c. competition is at its peak.

d. most companies tend to downsize.

e. demand may be very high

Venus Corp. prohibits its employees from smoking in its premises. This is an example of a(n)

a. entropy.

b. standard operating procedure.

c. program.

d. rule.

e. project.

In the context of SWOT analysis, which of the following would be considered as an organization's strength?

a. Motivated employees

b. Favorable government policies

c. High employee turnover rate

d. Exiting competitors

e. High overhead costs

Relish has a chain of outlets that sells baked products. Relish requires all its employees to complete a month's training before they could work in the kitchen. This is an example of a

a. regulation

b. policy.

c. standing plan.

d. standard operating procedure.

e. contingency plan.

In a Boston Consulting Group (BCG) matrix, _____ are businesses that have only a small share of a quickly growing market.

a. cash cows

b. entropies

c. dogs

d. stars

e. question marks

_____ is one of the factors that makes an alternative infeasible.

a. Legal barriers

b. Increased satisfactoriness

c. Increase in production capacity

d. Low costs

e. Decrease in expenditure