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Juli2301 [7.4K]
3 years ago
6

When paul o’neill joined alcoa as ceo, he set a, that there would be zero workplace accidents. A lot of people in the organizati

on thought this was impossible given how dangerous some aluminum-manufacturing jobs are, but alcoa’s safety record improved tremendously. As the board of governors of the american red cross considers planning, one option is to make strategic plans and then direct managers to align tactical and operational plans accordingly. Another option is to have planning specialists managers across the organization make their own plans. Why might this organization’s executives opt for the latter approach? Check all that apply. (a) the environment is a dynamic one, and department and frontline managers can come up with more responsive plans than can central leadership. (b) resources will be better coordinated across the organization in support of the overall strategy.(c) senior leadership will have more control over the organization’s direction. (d) when managers come up with their own plans, they are likely to be more committed to following through on them.
Business
1 answer:
natulia [17]3 years ago
5 0

Answer:

(a) the environment is a dynamic one, and department and frontline managers can come up with more responsive plans than can central leadership.

(d) when managers come up with their own plans, they are likely to be more committed to following through on them.

Explanation:

Firstly, research has shown that both <u>decentralized decision structure (where managers are allowed to make their own decisions)</u> and planning activities; <u>are associated with higher performance in dynamic environments</u>.

This is one reason why the organization’s executives might opt for the decentralization approach to planning - because of the organization's dynamic nature

Secondly, when managers come up with their own plans, they are likely to be more committed to following through on them. When managers participate in planning it serves as a motivation for them to achieve it which is preferable to forcing the plans on them from senior management. This might have been the reason for Alcoa's improved performance when Paul O'Neill took over, in relation to safety records. Managers may have been allowed to make their own safety plans

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The law of diminishing marginal utility states that as more units of a good are consumed, the marginal utility from the consumption of the next unit becomes lesser. John's total utility from the consumption of two ice creams is 10, and his total utility from the consumption of three ice creams is 9.7.

<h3>What does the law of diminishing marginal utility State?</h3>
  • According to the law of declining marginal utility, when consumption rises, the marginal utility gained from each extra unit decreases, all other things being equal.
  • The incremental improvement in utility brought on by consuming one more unit is known as marginal utility.

<h3>Which law does the law of diminishing marginal utility affect?</h3>
  • According to the law of diminishing marginal utility, a good or service's marginal utility decreases the more of it is used by a person.
  • Consuming increasing quantities of a good gives economic actors less and less pleasure.

<h3>What is law of diminishing marginal returns?</h3>
  • According to the law of declining marginal returns, increasing the number of production factors leads to lesser increases in output.
  • The addition of any more of a production element after a certain level of capacity utilization would unavoidably result in lower per-unit incremental returns.

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7 0
2 years ago
Consider this problem: Fast Auto Service provides oil and lube service for cars. It is known that the mean time taken for oil an
astraxan [27]

Answer:

The maximum time guaranteed = 19.04 minutes.

Explanation:

From the given problem data, we have:

Let Y be the random variable which follows the normal distribution.

So,

Y ~ N(u = 15, SD = 2.4

Where, u = mean and SD = Standard Deviation

Let the maximum time guaranteed is = M

So,

P (Y > M) = 0.05   equation 1

Convert this equation 1 into standard normal variable, that is,

P(Y> M) = 0.05

1 -  P(Y \leq M) = 0.05

P(Y \leq M) = 1 - 0.05

P(Y \leq M) = 0.95

P(\frac{Y-u}{SD} \leq \frac{M-u}{SD} ) = 0.95

P ( Z \leq \frac{M - 15}{2.4} )  = 0.95     Equation 2

From the equation 2, we have,

\frac{M-15}{2.4} = 1.644853627  

1.644853627 value is from using the function of Excel

( =NORSINV(0.95)) = 1.644853627

So,

M = 1.644853627 + 2.4 + 15

M = 19.04

Hence, the maximum time guaranteed = 19.04 minutes.

6 0
3 years ago
What are two examples of management information systems?
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Answer:

process control systems, human resource management systems, sales and marketing systems, inventory control systems, office automation systems, enterprise resource planning systems, accounting and finance systems and management reporting systems.

Explanation:

8 0
3 years ago
In a process cost system, the application of factory overhead usually is recorded as an increase in?
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In a process cost system, the application of factory overhead usually is recorded as an increase in work in process inventory control.

<h3>What is the process costing system?</h3>
  • When a large number of similar products are manufactured, a process costing system accumulates costs.
  • A process costing method is used by any large-scale firm who produces huge quantities of identical commodities.
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5 0
2 years ago
The fair rate is 8%. What is 100 per year, forever, worth now?
777dan777 [17]

Answer:

1. $1,250

2. $855.95

3. $3,333.33

4. $92.59

5. $46.32

6. $671.01

Explanation:

1.

$100 per year forever

Constant Cash flow every year forever is actually a perpetuity its present value is

PV of Perpetuity = Cash flow / rate of return

PV of $100 Perpetuity = $100 / 0.08 = $1,250

2.

$100 per year for 15 years

Constant Cash flow every year for specific time period is actually a Annuity  its present value is

PV of annuity = P + P [ ( 1 - ( 1 + r )^-n ) / r ] = $100 + $100 [ ( 1 - ( 1 + 0.08 )^-15 ) / 0.08 ] = $855.95

3.

$100 per year grow at 5% forever

It is a growing perpetuity and its present value will be calculated as follow

Present value of growing perpetuity = Cash flow / Rate of return - growth rate

Present value of growing perpetuity = $100 / 0.08 - 0.05 = $3,333.33

4.

$100 once at the end of this year

Present value = P ( 1 + r)^-n = $100 ( 1 + 0.08 )^-1 = $92.59

5.

$100 once after 10 years

Present value = P ( 1 + r)^-n = $100 ( 1 + 0.08 )^-10 = $46.32

6.

$100 each year for 10 years @ 8%

PV of annuity = P + P [ ( 1 - ( 1 + r )^-n ) / r ] = $100 + $100 [ ( 1 - ( 1 + 0.08 )^-10 ) / 0.08 ] = $671.01

5 0
3 years ago
Read 2 more answers
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