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Yuri [45]
3 years ago
11

1. Do you think evidence-based management seems like common sense? If so, why wasn’t it advocated earlier? 2. Are there circumst

ances in which evidence-based management might not be the best approach? 3. Could automated evidence-based management ever replace human decision makers? Why or why not? 4. Would you want to work under Jack Welch’s system at General Electric? Why or why not?
Business
1 answer:
Tom [10]3 years ago
5 0

1. Evidence-based management seems like common sense initially, but the reality is not that simple. Managers are often hired based on their experience. Therefore, people tend to believe their word more than they would believe some types of concrete evidence. Moreover, even when evidence does not change, it can be interpreted in various ways by different people, making objectivity impossible.

2. Sometimes, evidence-based management might not be the best approach. This would especially be the case in situations where a manager might be very experienced. It might be better to trust the manager's interpretation of events as opposed to what the evidence might suggest.

3. It is unlikely that automated evidence-based management could ever fully replace human decision-makers. This is because automated managers might not be sensitive enough to human matters that are important for a correct interpretation of evidence.

4. I would want to work under this system, as ultimately the system is most likely to lead to efficient outcomes. Moreover, under this system, all workers are treated in the same way.

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Answer:

corrected amounts  cost of goods sold = $916500

corrected amounts Retained Earnings = $1159000

Explanation:

given data

cost of goods sold = $880,000

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to find out

corrected amounts  cost of goods sold and retained earnings

solution

we get here first corrected amounts for 2017 cost of goods sold  will be here as

corrected amounts  cost of goods sold = cost of goods sold - ending inventories 2016 + ending inventories 2017   .........1

corrected amounts  cost of goods sold = $880,000 - $34,500 + $71,000

corrected amounts  cost of goods sold = $916500

and now we get corrected amounts Retained Earnings that will be as

corrected amounts Retained Earnings = retained earnings - ending inventories 2017

corrected amounts Retained Earnings = $1,230,000 - $71,000

corrected amounts Retained Earnings = $1159000

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