a) The school of management that the Management of XYZ Company Limited is applying is called <em>Mathematical or Quantitative School of Management.</em>
The Mathematical or Quantitative School of Management:
- Expresses management problems in equations, mathematical symbols, and quantitative models
- Encourages wide application of computer technology, simulations, and analytics
- Introduces precision to management thinking and practice
b) The Contingency School, unlike the Mathematical School of Management:
- Recognizes that not all management processes can be expressed with mathematical symbols and formulas.
- Identifies that mathematical models cannot replace sound judgment, which requires intuition and not equation.
- States that there is no single technique to solving management problems.
- Encourages managers to use any feasible management technique to solve problems, thereby thinking outside the box.
- Emphasizes that the applications of management principles and practices (process, behavioral, quantitative, and systems) should be contingent upon the prevailing circumstances.
Thus, with Contingency School, the tools of management thinking and practice should be applied based on prevailing situations and not mathematically with equations, models, and symbols.
Learn more about another School of Management Thought here: brainly.com/question/15557968
Answer: the correct answer is 56% of the original price.
Explanation: Let's say the original price is 100 - (0.20*100) = 80. the price is now 80 with the discount. The new discount is now 80- (0.30*80) =80-24 = 56. If 100 is 100%. How much is 56 of 100 in terms of percentage and the answer is 56%.
The diamond-water paradox arises because essential goods may be cheap while nonessential goods may be expensive.
<h3>What do you mean by diamond-water paradox?</h3>
- The dilemma of value, also referred to as the diamond-water paradox, describes the significant disparity in cost between some important items and non-essential ones.
- In a market economy, the cost of many necessities for human life is significantly lower than the cost of less necessary necessities.
<h3>Why does the paradox of value between diamonds and water arise?</h3>
- Water is clearly more valuable as a scarce resource than the luxury of having a diamond.
- Customers are forced to decide whether to buy one more diamond or one more unit of water as demand rises.
- The concept of marginal utility describes this idea.
<h3>Why is marginal utility for diamond High?</h3>
- Diamonds, Due to the limited availability of diamonds, people are likely to operate near the vertical axis, somewhat high on the marginal utility curve.
- In other words, the amount consumed is not that large.
Learn more about diamond-water paradox here:
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Answer:
The correct answers are A, B and C.
Explanation:
The word debit refers to debt, that is, at the request of accounting, it includes that numerical entry that is made in the account, in the "must", that is, on the left side and that represent assets or rights owned by the person or the company in question. It can increase the balance of a liability, or failing that, implies a decrease in the balance of an asset.
