Answer the following statements true (T) or false (F)
1. Because of radical changes to modern business practice, theoretical perspectives of management provide a historical context but unfortunately do not enhance understanding of the present.
2. Studying theoretical perspectives of management can be a source of new ideas.
3. Shanice recently took a management job in the book publishing industry, which is undergoing dramatic change. She should study theoretical perspectives of management to help her predict some of the probable outcomes of this change and help her decide on potential strategy going forward.
4. Telecommunication company Cisco Systems abandoned its "management councils" experiment, which had replaced a traditional hierarchical structure, because the councils slowed decision making.
1. FALSE
Studying theoretical perspectives of management can, among other things, help us to understand the present. "Sound theories help us interpret the present, to understand what is happening and why," say Christensen and Raynor. Understanding history will help you understand why some practices are still favored, whether for right or wrong reasons.
2. TRUE
Studying theoretical perspectives of management can, among other things, provide new ideas that may be useful to you when you come up against new situations.
3. TRUE
Studying theoretical perspectives of management provides good theories that can help you make predictions and enable you to develop a set of principles that will guide your actions.
4. TRUE
In 2011, Cisco abandoned the council-based structure. "By requiring employees to petition groups of people for department budgets, the councils slowed decision making," says one report. "It left managers without full control of units."
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Indicate whether the statement is true or false.
A $50,000 loan is to be amortized over 7 years, with annual end-of-year payments. Which of these statements is CORRECT?
A. The annual payments would be larger if the interest rate were lower. B. If the loan were amortized over 10 years rather than 7 years, and if the interest rate were the same in either case, the first payment would include more dollars of interest under the 7-year amortization plan. C. The proportion of each payment that represents interest as opposed to repayment of principal would be lower if the interest rate were lower. D. The last payment would have a higher proportion of interest than the first payment. E. The proportion of interest versus principal repayment would be the same for each of the 7 payments.