Adam Smith emphasized which concept in his book The Wealth of Nations?
a. unity of command
b. span of control
c. division of labor
d. teams
e. the scalar principle
c. division of labor
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A successful quality strategy features which of the following elements?
A) an organizational culture that fosters quality B) an understanding of the principles of quality C) engaging employees in the necessary activities to implement quality D) A and C E) A, B, and C
The U.S. Fish and Wildlife Service discovers that Grosse Farm Fisheries, Inc has violated a federal regulation. If no negotiated settlement can be reached, the agency will most likely
a. issue a formal complaint against Grosse Farm. b. do nothing. c. file a petition with the U.S. Supreme Court. d. impose immediate sanctions on Grosse Farm.
The Gatson manufacturing company has estimated the following components for anew product. Fixed cost = $50,000 Material cost per unit = $2.15 Labor cost per unit = $2.00 Revenue per unit = $7.50 Note that fixed cost is incurred regardless of the amount produced. Per-unit material and labor cost together make up the variable cost per unit. Profit is calculated by subtracting the fixed cost and total variable cost from total revenue, assuming the company sells all its produced goods.
a. Build an influence diagram that illustrates how to calculate profit. b. Using mathematical notation, give a mathematical model for calculating profit. c. Implement your model from part (b) in Excel using the principles of good spreadsheet design. d. If the company decides to make 70,000 units of the new product, what will be the resulting profit?
A taxpayer must be married to claim Head of Household status.
Answer the following statement true (T) or false (F)