
Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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Concept explainers
Question
1. Behavioral Management believes that management is a continuous process. *
true
false
2. The techniques adopted for production of goods is one of the major inputs that can increase productivity. *
true
false
3. The cost of automation is comparatively more cost efficient in the long run. *
true
false
4. It is easier to handle the operating procedures of tangibles rather than taking care of the goods. *
true
false
5. Productivity is only measured in terms of outputs and inputs. *
true
false
6. Brands like Tag Heuer and Rolls Royce follow a focused strategy. *
true
false
7. Multiple factor productivity is the same as total factor productivity. *
true
false
8. Per Capita income indicates the national income of an economy.
true
false
9. The breaks given to the employees at work lead to wastivity of resources rather than increasing productivity`. *
true
false
10. The management functions like finance, HR, marketing, etc. play an important role in enhancing productivity of the workforce. *
true
false
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- Deciding on a department's goals and how to meet them is known as the management function of controlling. True Falsearrow_forwardWhich of the following statements is true of operations management (OM)? a. The application of the concepts and methods of OM is limited to the technology industry. O b. OM is the only function by which managers can directly affect the value provided to all stakeholders. Oc. OM and its principles are exclusively applicable to firms that produce tangible products. € d. The activities involved in OM focus on creating value solely for external customers.arrow_forwardTime-based strategies a. focus on quality in all phases of an organization. b. relate to the timing of organizational changes. c. relate to each of the individual functional areas of the organization. d. focus on the reduction of time needed to accomplish tasks. e. all of the above.arrow_forward
- Nonearrow_forwardWhich of the following statements about operations management is TRUE? O Operations management is not important for lawyers. O Operations is all about manufacturing plants. O Operations management is in all job descriptions. € Every work requires operations.arrow_forwardBriefly describe, in 3-5 paragraphs (450 or more words), what this quote or quotes means to you in terms of systems thinking and provide two (2) unique examples using references for support as needed. “At any given time, the input that is most important to a system is the one that is most limiting.”arrow_forward
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