Answer:
Taylorism
Explanation:
Taylorism, often referred to as Scientific Management, was the first theory of management to focus specifically on analyzing and optimizing workflows. These theories of process optimization helped drive the Fordist shift to mass production which occurred in the early part of the 20th Century. Taylorism can be boiled down to 4 principal points: The method of doing a task should be informed by a scientific investigation of the task , employees should be selected and carefully trained for tasks ,tasks should have detailed instructions and should be subject to supervision and management should evaluate tasks and formulate optimized approaches for the workers to follow .
Some forms of analysis might be done by timing how long it takes a worker to do a task, others by weighing raw materials. Process analysis, for Taylor, had to look at both the minutiae of the process composition and the detail of the physical acts required to complete the process. The elements of process improvement Taylor advocated for were successful in regards to processing materials; changing the way steel was cut and patenting that process. Yet, during his life, Taylor struggled to achieve quite the same success improving the efficiency of workers. Taylorism was first scientifically understanding how the production process worked and then supporting the managers of a workplace to intimately train workers to work at maximum efficiency. This way, the means towards higher returns is paved with a well-managed, harmonious relationship between managers and workers. In theory, this would have been a much more sustainable model for an organization. But despite that promise, people, although genetically similar, are intrinsically unique and complex. Aligning different minds and ushering people to a new way of working (from individual craft, to standardized production), sometimes require more time and effort than bringing in a new piece of technology.
LeBron James is one of the best basketball players in the country, was selected by the Cleveland Cavaliers as the first pick in the 2003 NBA draft, signing a three-year contract worth almost $13 million, with an option for a fourth year at $5.8 million. Had he decided to attend college instead, James would have incurred an opportunity cost of at least $19 million in forgone income to earn a four-year college degree.
Opportunity cost is the value you would gain or lose if you choose a different path or solution. The opportunity cost in this scenario is deciding to play in the NBA since college was too expensive. LeBron James ultimately saved time and money by taking the detour because he received a contract worth close to $13 million; otherwise, he would have had to pay more and spend more time attending a four-year college.
LeBron's decision to join the NBA right after high school graduation has an opportunity cost because he might have attended a four-year university or college instead. He was chosen by the Cleveland Cavaliers as the first overall choice in the 2003 NBA Draft
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Answer:
Explanation:
The <em>price</em> of a <em>stock</em> can be modeled by the present value of the stream of future <em>dividends</em> discounted at a rate equal to the<em> return expected</em>.
The equation, when the dividends are expected to <em>grow</em> at a constant rate, less than the return rate is:
Where:
- Price₀ is the <em>current price</em>: $44.12
- Div₁ is the <em>dividend </em>to be paid a year from now: $0.46 × 1.145 = $0.53
- g is the expected constant <em>growth rate</em>: 14.5% = 0.145
- r is the <em>expected return</em>
Then, you can solve for r:
The term ROP for U-Haul means Roll Over Protection which is a service that is offered for rental units of trailers.