Define delegation and explain its importance.
What will be an ideal response?
Answer: As work is spread out over various levels and spans of control, delegating work becomes paramount. A manager delegates when he or she assigns a task to someone at a lower level. It often requires the subordinate to report back to his or her boss about how effectively the assignment was carried out. Delegation is perhaps the most fundamental process of management because it entails getting work done through others. It is important at all hierarchical levels. The process can occur between any two individuals in any type of structure with regard to any task. Some managers are comfortable fully delegating an assignment to subordinates; others are not.
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Research has shown a positive correlation between organizations with a code of ethics and what?
a. greater tolerance for diversity b. faster turnover c. higher NASDAQ rating d. greater revenue
During the production era of marketing, the top business priority was to deliver unmatched value to customers.
Answer the following statement true (T) or false (F)
________ are a way for a business to raise capital through federally registered and underwritten sales of shares in the company.
A) Initial public stock offerings B) Venture capital funds C) Microloans from social entrepreneurs D) Dividends from employee stock E) Social capital networks
Raycroft Corporation is conducting a time-driven activity-based costing study in its Customer Service Department. The company has provided the following data to aid in that study:?Activity cost pool:Time-driven activity rate (cost per unit of activity) ?Processing Orders$7.00?Resolving Queries$7.70?Processing Credit Reviews$14.00?Cost Object Data:Customer JCustomer KCustomer L?Number of orders processed31174?Number of queries resolved20107?Number of credit reviews processed101Required:Using time-driven activity-based costing, determine the total Customer Service Department cost assigned to each customer.
What will be an ideal response?