Answer:
a road map for the marketing activities of an organization for a specified future time period, such as one year or five years.
Explanation:
A business objective is defined as measurable achievements a company wants to attain within a given period of time.
It acts as a compass that shows that activities are on track to realise business goals.
The steps to get a favourable result are outlined, resources to be used are usually stated and a time frame given to get results.
Goals on the other hand are general results that a company wants to attain. Objectives are more specific.
The correct option is C (1836)
<u>Explanation:</u>
From the given data, all the frims with the given market share are taken. the 8 more firms are taken into account which have 1 percent market share. Thsu, 8 is multiplied with 1 pecent of share.
All the square roots are calculated in order to calculate the HHI
HHI = Summation of sqrt Si
= (36)^2 + (3)^2 + (3)^2 + (6)^2 + (16)^2 + (6)^2 + (4)^2 + (7)^2 + (11)^2 + 8(1)^2
= 1836
Therefore, the correct answer is C (1832)
Answer: The answer is b. Reduce output in the short run.
Explanation: In production, to determine the quantity of products to supply, the demand of the consumer plays a very vital role. This is because the consumer demand will determine the price at which a company will sell its products.
In the case of Techno above, they would do well to reduce the output in the short run, since demand has reduced, pending when the demand increases. This is because if they maintain their current output of 3000 TV sets per week, they will sell less units and their revenue (price x quantity sold) will be lower than their cost and this will lead to them incurring loss.
So until the recession scare passes, output should be reduced in the short run.