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- Two separate groups of managers are given a problem to solve, and each group then presents its proposed solution to top management in an attempt to determine the best course of action. This process is called #2711
- After realizing that members of his rural community regularly drove over 15 miles for a touchless car wash, Ethan took out a small business loan and partnered with a local gas station to provide the service locally. Ethan exhibited traits of a(n) #2712
- Planning in an organization involves #2713
- Highly innovative and creative companies tend to #2714
- A(n) _______ is a group of related managerial decisions and actions to help an organization achieve its goals. #2715
- The first step in planning for an organization is #2716
- Each department within an organization should develop a _______ strategy to outline how the department will improve its ability to perform task-specific activities in ways that add value to the organization's goods and services. #2717
- When situations occur repeatedly, organizations can develop _______ plans to outline policies, rules, and standard operating procedures (SOPs) on how to handle those situations. #2718
- A management team considers the organization’s strengths and weaknesses as well as opportunities and threats in its current marketplace. The team is performing a _______ analysis. #2719
- An organization consistently invests above the industry average in research and development. As a result, it is able to offer exclusive product features, although product pricing is higher to account for the additional investment. This organization is using a _______ strategy. #2720