In your opinion, how can using organizational costs, revenues, and profitability performance measures be ineffective or even damaging in managing a process, system, or organization?
What will be an ideal response?
Environmental, political, and/or economic events may skew these numbers (Lucky or unlucky events).It is difficult to attribute cost, revenue, or profit contributions of the various functional units or business units of the organization. This is because departments/business units are interdependent and share costs, equipment, labor, and revenues.Using these performance metrics may cause departments to buy cheap materials, use unskilled labor, or purchase inadequate machines, which will result in poor quality for the customer.Since many of the costs associated with business are fixed/overhead costs, managers are left to minimize the variable costs such as labor. This may result in minor changes at best or lower quality at worst.
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According to Maslow's hierarchy of needs model, recognition, self-esteem, and status constitute a person's social needs
Indicate whether the statement is true or false
A leasehold is a payment
a. for the right to use certain property. b. for the right to sublease certain property. c. to give up or to get out of a lease. d. to improve leased property.
Working in small groups, research some of the actions that organisations have taken in response to the introduction of the National Living Wage. Then, consider whether these actions mean that the balance of power has been altered in favour of the employees or the employer.
What will be an ideal response?
Simple exponential smoothing or the first-order smoothing model can be used when ______.
a. demand exhibits different types of trend patterns b. demand is constant or level c. demand exhibits both trend and seasonal patterns d. demand is fluctuating