James and Lauren are trying to decide if they should go on vacation or cancel the trip. James
argues that they cannot afford to cancel the trip since they paid for part of the trip with a
nonrefundable deposit. Lauren argues that they should cancel the trip because the additional cost of
the trip outweighs the additional benefit of the trip and the nonrefundable deposit should not factor
into the decision-making process. Who is correct? Explain.
Wrne your response

You work as the sales manager for a company that sells office supplies to businesses of all sizes. because the profit margins are razor-thin, you need to ensure that you are getting the very best prices on paper, pencils, pens, post-it notes, and other office supplies from the manufacturers. when reviewing the quarterly profit statement, you realize that your costs are higher than they should be, and you trace the higher costs back to an employee who has been lax about getting competitive bids to ensure the lowest prices. when you conduct your research to determine the reason for the higher costs, and take action to bring those costs back down, in which of the key management processes are you taking part?