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denis-greek [22]
3 years ago
10

Scientific managment principals are out dated today business managment. comment on​

Business
1 answer:
Andreas93 [3]3 years ago
6 0

<u>Explanation:</u>

Scientific management concentrates on improving the productivity. In scientific management each activity done by the employees was timed and unnecessary movements are removed to simplify the process and create efficiency. In this scientific management the employees are less satisfied and not motivated which affects their performance.

This model does not encourage creativity and the work has to be done in the same way to achieve efficiency. In today's modern business management creativity is considered to be most important in any job and employees are encouraged to think out of box and perform smart work.

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The Weimer Corporation wants to accumulate a sum of money to repay certain debts due on December 31, 2030. Weimer will make annu
Karo-lina-s [1.5K]

Answer:

Fund balance at December 31th, 2030 $ 1,381,644.80

Explanation:

We should calculate the future value of a 10-years annuity of 100,000 at 7% interest rate:

C \times \frac{(1+r)^{time} -1}{rate} = FV\\

C 100,000

time 10 years

rate 7% = 7/100 = 0.07

100000 \times \frac{(1+0.07)^{10} -1}{0.07} = FV\\

FV $1,381,644.7961

6 0
3 years ago
Final Exam Review Explain the Risk Management Process (4 tasks) and explain the 4 ways to respond to risk and provide an example
alex41 [277]

Identification, evaluation, and control of financial, legal, strategic, and security threats to an organization's assets and profits are done through risk management.

<h3>What is the risk management process?</h3>

A strategy for evaluating risks and opportunities, how they could impact a project or organization, and how to deal with them is known as the risk management process.

The 4 essential steps of the Risk Management Process are:

Identify the risk: Finding all the occurrences that could potentially have a negative (risk) or good (opportunity) impact on the project's goals is the first stage in the risk management process.

Assess the risk: Assessments of risk and opportunity might be qualitative or quantitative. Based on the likelihood and significance of the event, a qualitative assessment examines the level of criticality. In a quantitative analysis, the event's financial impact or benefit are examined.

Risk treatment: An organization must first prepare a treatment plan that details its strategy for managing hazards. The goal of the risk treatment strategy is to lessen the likelihood that the risk will materialize (preventive action) and/or to lessen the impact of the risk (mitigation action). The goal of a treatment plan for an opportunity is to boost the chance that it will materialize and/or to boost its advantages. A response strategy is established for the project based on the type of risk or opportunity.

Monitor and Report on the risk: It is important to monitor and report on risks, opportunities, and their management strategies. The severity of the risk or opportunity will determine how frequently this occurs. Creating a monitoring and reporting framework will guarantee that the right venues for escalation exist and that the right risk responses are being implemented.

<h3>What are the four ways to respond to risk?</h3>

Risk reduction

This method typically entails creating a different plan of action with a higher chance of success but a larger price tag.

A project team can minimize the danger of working with a new supplier whose reliability is unknown by selecting a supplier with a track record instead of a new provider who provides considerable price incentives.

Accepting and sharing risks

This strategy entails taking the risk and working with others to share accountability for risky behaviors.

By creating a joint venture with a business established in a particular country, for instance, many companies working on foreign projects will lower the political, legal, and employment risks connected with overseas ventures.

Risk mitigation

Risk mitigation entails making an investment to lower the risk associated with a project.

For instance, businesses frequently purchase a fixed exchange rate while working on overseas projects to lessen the risk posed by exchange rate swings.

Risk transfer

Risk transfer is a risk management technique that transfers project risk to a third party.

The purchase of insurance is a well-known example of risk transfer. The insurance provider assumes the risk instead of the project.

Learn more about risk management here:

brainly.com/question/4680937

#SPJ4

3 0
1 year ago
A monopolist maximizes profits by:
klemol [59]

Answer:

c) by setting MR(q)=MC(q) at a q for which p(q) is at least AVC(q)

Explanation:

Profit is maximised at MR= MC and price is greater than MC for monopoly.

6 0
3 years ago
Animated comedy show, American Family, is being broadcast in Houston. A potential advertiser wants to know how popular the show
ZanzabumX [31]

Answer:

The options are given below:

A. 4.3

B. 20

C. 23

D. 46

The answer is C. 23

Explanation:

In order to calculate this, we would need the following:

- Total number of people watching television in Houston households.

- Total number of people watch the show American Family in Houston households.

From the question above, we have:

- Number of households with televisions = 3,300,000

- Number of households watching the show= 759,000.

To calculate the rating, we have:

(759,000/3,300,000) X 100

0.23 X 100

= 23

7 0
3 years ago
2. You now have Birr 2,000,000 in the bank earning interest of .5 percent per month. You need Birr 3,000,000 to make a down paym
vovangra [49]

The number of months that it would take me to accumulate the Birr 3,000,000 is 50 months.

<h3>How many months would it take to accumulate 3,000,000?</h3>

The equation that represents the total amount saved :

Total amount =amount invested +  total interest earned + total amount earned

Total interest earned = amount invested x time x interest rate

2,000,000 x 0.005 x m = 10,000m

Total amount earned = savings per month x total number of months

10,000m

3,000,000 = 2,000,000 +  10,000m + 10,000m

3,000,000 - 2,000,000 = 20,000m

1,000,000 = 20,000m

m = 50 months

To learn more about interest, please check: brainly.com/question/26164549

#SPJ1

5 0
1 year ago
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