Explain why an organization cannot achieve 100 percent accurate and complete information.
What will be an ideal response?
Achieving perfect information is almost impossible. The more complete and accurate an organization wants to get its information, the more it costs. The tradeoff between perfect information lies in accuracy verses completeness. Accurate information means it is correct, while complete information means there
are no blanks. Most organizations determine a percentage high enough to make good decisions at a
reasonable cost, such as 85% accurate and 65% complete.
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Formation of a cartel like OPEC, consisting of oil-producing companies, would most likely be illegal in the United States
Indicate whether the statement is true or false
The narrowest definition of competition that results in the fewest competitors that includes only products or services of the same product types is called:
A) product form competition. B) product category competition. C) generic competition. D) budget competition.
Doug, an employee of Cayman Travels Company, has gross salary for March of $4,000. The entire amount is under the OASDI limit of $118,500, and thus subject to FICA. His year-to-date pay has already exceeded the $7,000 cap for FUTA and SUTA. Provide the journal entry to record the employer's payroll taxes. (Assume a FICA-OASDI Tax of 6.2% and FICA-Medicare Tax of 1.45%.) Omit explanation.
What will be an ideal response?
The "embrace the other party's approach" strategy involves
A. both parties making mutual adjustments to find a common process for negotiation. B. creating a new approach that may include aspects of either home culture or practices from a third culture. C. persuading the other party to use your approach. D. adopting completely the approach of the other party.