What can managers do to incorporate a scientific approach to management?
What will be an ideal response?
Answer: Many management problems and issues can be approached in ways that are rational, logical, objective, and systematic. Managers can gather data, facts, and objective information. They can use quantitative models and decision-making techniques to arrive at "correct" decisions. They need to take such a scientific approach to solving problems whenever possible, especially when they are dealing with relatively routine and straightforward issues. Technical, diagnostic, and decision-making skills (which we will discuss later in the chapter) are especially important when approaching a management task or problem from a scientific perspective.
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Last year, Acme Global hired 25 customs brokers. At the end of the year, only 10 were still working for the organization. The organization’s new hire turnover was ______%.
A. 20 B. 40 C. 60 D. 80
The specific meaning of goodwill in accounting is:
A. Rights granted an entity to deliver a product or service under specified conditions. B. The cost of developing, maintaining, or enhancing the value of a trademark. C. Long term assets held as investment. D. The support of the board of directors for the operating decisions of management. E. The amount by which a company's value exceeds the value of its individual assets and liabilities.
The victim of stolen trade secrets can recover any profits made by someone from the stolen trade
secret. Indicate whether the statement is true or false
Use the information in Scenario 4.7. What is the pre-tax cash flow (net present value) for alternative #2 compared to the base case of doing nothing for the next five years?
A) negative pre-tax cash flow B) more than $0 but less than $100,000 C) more than $100,000 but less than $200,000 D) more than $200,000