Why is it important to update policies-procedures and rules

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1. Why is it important to update policies,procedures and rules? Is it more difficult to manage using outdated policies, procedures, and rules?

2. Provide an example of a business decision based on multiple choices made by a company that changed the company's future (good or bad). This example could be from a company currently in operation or one that has failed and went out of business.

3. When you are shopping for clothing, explain how your purchasing behavior is influenced by the economic principles of supply, demand, factors of production, prices, and opportunity costs.

Reference no: EM132299921

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