The 'Peter Principle' states that employees are promoted to their 'level of incompetence'. 

Which of the following are valid approaches to avoiding this conundrum?

i)Never promoting staff, but simply paying them gradually more for their current position.

ii)Assessing employees' suitability for the new post rather than their competence in the existing one.

iii)Introducing more flexible pay structures.

Which one best describes 'scenario planning' as a planning tool?

It is difficult for new companies to break into some markets due to factors like expensive infrastructure being required. What are these termed?

i)A Private Finance Initiative (PFI) involves a public-sector organization purchasing services from a private-sector company. ii)PFI contracts tend to be of less than ten years

i)All measures should be reported to the senior management. ii)Decisions should be made on the basis of quantitative data alone.

What is meant by the term 'lobster trap'?

The acronym RBV stands for:

Whereas Porter concentrates attention externally on markets, advocates of the RBV focus attention:

Michael Porter (1980, 1985) suggested that factors such as initial capital requirements, the threat of price-cutting by established firms and the level of product differentiation represent _______ for new-firm entrants into markets.

National, regional and local governments, as well as economic or political unions like the European Union (EU) or the North American Free Trade Agreement (NAFTA), often enforce regulations that can do which of the following?

What do we call firms that invest in a variety of different product markets to reduce exposure to risk in single product markets?