Page 25 - Business Principles and Management

Unit 1

Investing in advanced technol-
ogy helps businesses achieve
greater efficiency. How does
technology contribute to
greater customer satisfaction?

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1.2 Assessment

UNDERSTAND MANAGEMENT CONCEPTS
Determine the best answer for each of the following questions.
1. The ability of businesses from one country to compete with similar
businesses in other countries is known as
a. domestic competition
b. foreign competition
c. global competition
d. fair competition
2. Which of the following is not one of the ways companies can achieve
efficiency?
a. Specialization of effort
b. Reducing prices charged to customers
c. Better technology and innovation
d. Reorganization of all work activities

THINK CRITICALLY
Answer the following questions as completely as possible.
3. Why were Japanese automobile manufacturers able to compete
effectively with U.S. manufacturers who were considered world
leaders?
4. What are some reasons that quality increases when
employees are empowered to make decisions
about their work?

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