Answer:
The higher the price, the higher the producer's profits. Your needs and wants are unlimited. If heavy competition for a product keeps its price low, businesses will be very motivated to offer the product for sale.
<span>Adding a machine to the factory and producing another car would be the choices that decision makers could use marginal analysis to make effective decisions.</span>
Answer:
d) Competition
Explanation:
According to Rajasekar, J. (2014). <em>Factors affecting effective strategy implementation in a service industry</em> Strategic management process key factors are the role of leadership, the role of culture and the role of organizational structure in strategy implimentation.
On the other hand, "the absence of real competition is either not aware of the need to formulate a strategy and implement it (clarity of strategy) or believe there is no need to do so due to the business structure" (p.177)
Reference: Rajasekar, J. (2014). Factors affecting effective strategy implementation in a service industry: A study of electricity distribution companies in the Sultanate of Oman. International Journal of Business and Social Science, 5(9).
It works best for NEW PRODUCTS as its main goal is to make money and get as much profit as possible when the pricing is highest.
Found from: Conjointly.com
