Describe the three elements of problem structure. Contrast a structured problem to an unstructured problem. Describe which levels of management typically deal with structured problems and with unstructured problems
Problem structure has three elements: (1) Data–the values used to represent factors that are relevant to the problem; (2) Procedures–the sequence of steps or decision rules used in solving the problem; and (3) Objectives–the results the decision maker desires to attain by solving the problem.
When all three elements of problem structure are known with certainty, the problem is structured. In unstructured problems the data requirements are uncertain, and/or the procedures are not specified, and/or the solution objectives have not been fully developed.
In general, structured problems are handled at the operations level and partially structured problems are handled by operations, tactical, and strategic management. Usually, strategic management handles unstructured problems.
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Answer the following statement true (T) or false (F)
The customer value perspective of the balanced scorecard addresses the things that an organization needs to do well to meet customer needs and expectations
Indicate whether the statement is true or false
Hadley Corporation, which has only one product, has provided the following data concerning its most recent month of operations: Selling price$126 Units in beginning inventory 0Units produced 1,900Units sold 1,800Units in ending inventory 100 Variable costs per unit: Direct materials$49Direct labor$28Variable manufacturing overhead$5Variable selling and administrative expense$11Fixed costs: Fixed manufacturing overhead$32,300Fixed selling and administrative expense$23,400What is the total period cost for the month under variable costing?
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What occupational patterning trend are the industrial countries that are members of the Organization for Economic Cooperation and Development experiencing?
a. A reduction of highly skilled workers in the total flow b. And increasing share up temporary and highly skilled workers in the total flows c. An increase of workers filling jobs largely in the service sectors d.A more diverse mix of racial and ethnic backgrounds in the total flow