Axis Company manufactures a product that is used in most ...

[mydiamond]

Axis Company manufactures a product that is used in most households, but lately the company's sales have been declining. Managers are considering changing the packaging of the product, increasing advertising, and using technology to make a change in the product to create a newer and better model. List the six steps in the decision-making process and give an example of each step for this situation for Axis Company.

Question 2

What is the difference between gross domestic product (GDP) and gross national product (GNP)?

[ryrychapman11]

Answer to Question 1

Answers should include the following steps and an example of each.
(1) Define the problem; example: Need to increase sales.
(2) Identify the alternatives; example: new packaging, increased advertising, technological change.
(3) Evaluate the alternatives; examples might include cost and timing of the alternatives.
(4) Make a choice: example should be one of the alternatives identified.
(5) Take action on the choice: example should describe how the alternative is implemented.
(6) Review the decision; example should describe how the effects can be evaluated, such as analyzing the cost of the alternative and the change in sales level.

Answer to Question 2

GDP measures the output of goods that a country produces within its borders, while GNP also includes production in other countries that uses resources of the country whose GNP is being measured.

[mydiamond]

Thank you

[ryrychapman11]

No problemo