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EOPA AStreeter1
Entrepreneurship Pathway
Question | Answer |
---|---|
What is cost leadership? | A competitive strategy by which a company aims to be the lost-cost leader in its industry. Key is in the trickery balance between low cost and acceptable quality. |
What is an Autocratic leader? | A leader who does not listen to other people but make all decisions themselves. They make decisions alone because they do not trust others. |
Does a Democratic leader or Autocratic leader make decisions alone? | An autocratic leader makes decisions alone. |
What are the three marketing strategies? | Focus, differentiation, and cost leadership. |
What is a Laissez-Fair leader? | A hands off leader. They simply choose not to lead. They lack confidence in their leadership abilities and allow others to make decisions. |
Developing vision strategic planning of an organization is usually the main job of who? | Top managers. |
What does MBO stand for? | Management-By-Objective. |
How many steps are in the MBO process? | Six steps. |
What are the steps in the MBO process? | Establish, Develop, Allow, Evaluate, Takes, and Establish. |
What is the term anchoring? | The anchoring effect refers to the adjustment a decision maker carries out based on information presented to him. |