Business firms show the influence of ___ in the way that they adjust products, pricing, promotions and other practices in response to customer feedback as reflected in sales and profitability.
A) bureaucratic control
B) clan control
C) market control
D) self-control
E) external control

Question

Quizplus · Accepted Answer

Market control refers to the influence that customers have on a business through their purchasing behaviors and preferences. Business firms adjust their products, pricing, promotions, and other practices to align with customer feedback as reflected in sales and profitability, which is a clear example of market control. Bureaucratic control refers to centralized decision-making and strict rules and procedures, clan control refers to the influence of shared values and beliefs within an organization, self-control refers to an individual’s ability to regulate their behavior and thoughts, and external control refers to outside forces such as government regulations or competition.

Business Firms Show the Influence of ___ in the Way