Answer: Discretion
Explanation: In simple words, discretion refers to the freedom that an individual get to make decisions that might affect him or her. In business sense, it refers to the freedom of performing the job without any monitoring or interfere from the seniors.
In the given case, the company did not interfere with the job of Herb and followed his instructions even though it sounded crazy at first.
Hence we can conclude that the leadership gave herb high degree of discretion.
Answer:
d. where price is equal to average fixed cost.
Explanation:
Firms involved in a perfectly competitive market face the same cost, <em>they will theoretically make zero profit on the long run.</em> This happen at the point where price is equal to average fixed cost.
Answer:
C. A business plan is a business’s roadmap for the future
Explanation:
A business plan a is well formulated document that includes all the details about nature of the business, sales and marketing strategies, customer demographics, projected revenues of the future along with other financial projections. Business plan is often termed as a Blueprint of the Business.
No matter what the scale of a business is, it is a startup or a fortune 500 company, all of the businesses need to have a business plan to get successful. And a proper business plan and its execution which brings a business to massive heights in the first place.
Based on this discussion, we can conclude that option C is the correct answer for this question. Option D is not a correct answer because simply making a business plan does not guarantee success. There are many other factors that determine the success of a business e.g. execution of ideas, choosing the right team, getting enough finances.
