Answer:
Herbert Simon:
B) believed that firms always maximize profits even if they have less than perfect information.
Explanation:
Herbert Simon was born in 1916 and died in 2001. He was a renowned economists and political scientists having received numerous awards and Prizes for his contribution in economics, particularly business economics and administrative research. Some of the awards and prizes he received due to his input in economics are; Nobel Memorial Prize in Economics, U.S. National Medal of Science, and the A.M. Turing Award for his contribution in the field of Artificial Intelligence.
Simon also authored numerous books during his time including; "Administrative Behavior", "The Sciences of the Artificial", and "Models of Bounded Rationality". He is mostly known for his theory about bounded rationality. Simon challenged conventional economic thinking based on the ideas of rational thinking and economic man. Previously, economists believed that people made economic decisions based on careful analysis of all available information to arrive at rational conclusions. Simon contradicted this idea by stating that people could not possibly have access to all information and they were somehow limited in coming up with rational outcomes. He argued that since it was impossible to obtain and process all information, most people would utilize the available information to come out with a result that is satisfactory or one that is simply good enough.
In conclusion he outlined that firms always utilize the information available to them to maximize profits even if the information is less than perfect.
Answer:
c. Involvement and empowerment of employees at all levels
Explanation:
Total quality management refers to managing the organization in order to develop a success in the long run by considering the low level workers to the high level executive, and at the same time focused on quality improvement and the customer satisfaction
Here are the following points to become important for an organization
1. Quality improvement, management leads to long term success for organization and customers
2. The deficiencies could be determined by performing the work and can be corrected through providing the training, education, etc
3. If the product contains high quality that meet the needs of the customers than it would lead to high customer satifaction
4. And, in case if there is few defective product so the company is in a position to save the cost
drafting the blueprints for the hospital
Explanation:
she has a structural engineer degree
Answer:
always involve the acquisition of long-lived assets
Explanation:
Capital expenditures can be regarded as the investments that is made by
companies in order to grow or maintain their business operations.
It can as well be regarded as capital expense and it's explained as money that is been spent by an organization or corporate entity in buying, maintaining as well as improving its fixed assets, these asset could be buildings, equipment, vehicles or land.
It should be noted that Capital expenditure decisions always involve the acquisition of long-lived assets
Answer:
The correct answer here is C) Collectivism .
Explanation:
The political system adopted by Normian republic here is of collectivism, which is a theory that is closely related to communism. According to this theory , the main idea is that power should be held by people as a whole , rather than in hands of few individuals, and welfare of the society should be given priority over the welfare of an individual.
