Identify and discuss five recommendations for companies that wish to grow
What will be an ideal response?
Answer: First, draft a senior team. A key role of top managers is mentoring and developing those who work for them. Second, cross train managers. Very often, top managers see their role as arbitrating complaints and disputes among middle managers. Not only does this encourage cross-functional decision-making, but it also reduces the work load of senior managers. Next, increase flexibility. One of the key responsibilities of middle managers is to coach and guide those who report to them. Fourth, help managers learn to communicate. Middle managers also need to learn to effectively communicate with their peers. When difficult issues arise, using face-to-face or phone discussions over e-mails can quickly escalate. Fifth, invest early in employees. This is especially important to companies during the growth phase, where there is an expectation that the management team will grow in the near future.
You might also like to view...
A disadvantage of surveying the current system is
a. it constrains the generation of ideas about the new system b. it highlights elements of the current system that are worth preserving c. it pinpoints the causes of the current problems d. all of the above are advantages of surveying the current system
For intangible assets, controls should be designed to do which of the following?
a. Identify and account for intangible asset impairments. b. Develop amortization schedules that reflect the remaining useful life of patents or copyrights associated with the asset. c. Provide reasonable assurance that decisions are appropriately made as to when to capitalize or expense research and development expenditures. d. All of the above.
Which of the following is the best way to achieve more effective self-leadership?
a. Focusing on natural rewards b. Using self-applied rewards that are separable from the task c. Focusing on natural rewards and using self-applied rewards that are separable from the task d. Neither focuses on natural rewards or on self-applied rewards
Adorn Furniture manufactures a small table and a large table. The small table sells for $900, has variable costs of $540 per table, and takes 10 direct labor hours to manufacture. The large table sells for $1500, has variable costs of $980, and takes eight direct labor hours to manufacture. Calculate the contribution margin per direct labor hour for the small table.
A) $360 per direct labor hour B) $52 per direct labor hour C) $36 per direct labor hour D) $54 per direct labor hour