A working knowledge of both markets and firms is important for managers to be effective because it
A)helps them make appropriate strategic and operational decisions.
B)helps them to exploit other executives.
C)helps them train their subordinates better.
D)helps them earn high bonuses.

Question

Quizplus · Accepted Answer

A working knowledge of markets and firms helps managers make appropriate strategic and operational decisions, such as understanding customer needs, anticipating competitor behavior, and adapting to changes in the business environment. This leads to improved performance and profitability for the organization. The other options, exploiting other executives, training subordinates, and earning high bonuses, are not the primary goals or outcomes of having a working knowledge of markets and firms.

A Working Knowledge of Both Markets and Firms Is Important