If most catastrophes in business occurs because of a series of small problems. Introduction: A catastrophe is usually a large damage or a sudden damage, in an organizations perspective catastrophe could be when the business does not give attention to cashflow interruptions. This could eventually disrupt the entire operations. This is due to the lack of attention given to the series of small issues such as less attention given into outgoings and incomings of cash.

Question

In your company's management development program, there was a heated discussion between some people who claimed, "Theory is impractical and thus no good," and others who claimed, "Good theory is the most practical approach to problems." What position is better and why?

Answer 1

Question

Chapter 9, Problem 7DQ

Summary Introduction

To determine:

If most catastrophes in business occurs because of a series of small problems.

Introduction:

A catastrophe is usually a large damage or a sudden damage, in an organizations perspective catastrophe could be when the business does not give attention to cashflow interruptions. This could eventually disrupt the entire operations. This is due to the lack of attention given to the series of small issues such as less attention given into outgoings and incomings of cash.

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