Hanna, the owner of GT Trading Inc., is engaged in the strat…

Hanna, the owner of GT Trading Inc., is engaged in the strategy formulation stage. She has already allocated a significant sum of money to upgrade the company’s communication network (sunk costs) but has failed to see any positive outcomes. Given the money she has already spent, she feels she needs to recover those costs and moves forward with the communications upgrade even though the outcome does not seem promising. This best illustrates the concept of

Rayya is exploring multiple suppliers in order to find the b…

Rayya is exploring multiple suppliers in order to find the best price. However, instead of calling all seven potential suppliers, he only reaches out to the first four and bases his selection on those instead of contacting all suppliers. Rayya’s action best describes the concept of

Marketo Inc., a marketing firm, replaced its existing data a…

Marketo Inc., a marketing firm, replaced its existing data analysis software with new software from another supplier. Since the new software has different features and abilities, Marketo has had to spend $15,000 on training its employees to use it. In this scenario, $15,000 represents Marketo’s