1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
Vadim26 [7]
3 years ago
5

Frederic Taylor applied the scientific method to management. In many cases, this meant measuring a process to determine its opti

mal possible output. From your own work experience, discuss a time you have seen measurements used to manage a process. Examples might include allowing a certain amount of time for a phone call or a project deadline. Do you believe the results were optimal, based on the measurement used?
Business
1 answer:
prisoha [69]3 years ago
3 0

Answer:

I have observed the training process for the job related to the marketing of cosmetics products at the point of sale. The girls were trained in a very precise manner, where the <em>key takeaways</em> were:

<u>- The sales pitch of a particular skin cream should not take more than two minutes per customer. </u>

<u>- A customer should be shown more than five products of the range.</u>

This was the measured guideline proposed by the manager, according to previous experience.

If the sales girls managed to keep each particular sales pitch shorter than two minutes, they would obviously cover more customers. Also, when presenting more than five products to a potential customers, the customer would have a bigger choice to choose from when deciding to buy.

Having in mind the <em>rewards </em>and the absence of rewards, the manager decreased the salary for each sales girl who broke the pitch duration limit, or showed less than five products for more than 7 times a day. Accordingly, the manager gave them a bonus for a day when they managed all customers in the proposed manner.

Although this kind of measurement and productivity has substantial rationale (bigger customer coverage and better product exposition), I think that the strict propositions do not result in the optimal output all of the times.

For example, some customers naturally need more time for the pitch process if they want to thoroughly educate themselves about the product benefits and usage. In that case, more time invested in the pitch isn't necessarily a loss, as those customers can still buy lots of products.

Similarly, if a customer is well prepared and knowledgeable about the skin care range's scope of products, there is no need to show them the proposed, fixed amount of products, as it is probably enough to just pinpoint the benefits of 1-2 products concerning a specific skin care problem.

To sum up, I think that this kind of strictly quantitative, scientific approach to management can be highly irrelevant in some areas of modern business. After all, this approach originated during the time of great industrialization and was mainly used directly in facilities and plants, assessing the production. Having that in mind, it probably does not reflect the productivity of other business segments, such as marketing-intensive processes.

You might be interested in
Prepare the journal entry to record autumn company’s issuance of 63,000 shares of no-par value common stock assuming the shares:
mojhsa [17]

The entry for this transaction would be this: 

Land                                1,827,000 

Ordinary shares                       1,827,000 

# 

<span>The market value of the shares on </span>this transaction<span> does not affect the recording of this transaction. If the share has no par value, the stated value should be used. Stated value is a value assigned by the company to its stock for the purpose of accounting and it does not have any relation with the market value of the shares. Since stated value is not given in this problem, we should record the entire amount of the land exchanged in this transaction to the "Ordinary shares" account.</span>

7 0
3 years ago
Last year Canada’s economy had a surge in exports and increased demand for additional economic outputs. Because of the great dem
Artyom0805 [142]

Answer:

Neoclassic economists believe that both wages and prices are sticky (hard to change) only  int he short run. In the long run, both prices and wages will adjust to new economic conditions.

In this particular case, neoclassic economists will predict that even though wages are starting to rise, in the long run the equilibrium wage will be higher.

Long run and short run are economic concepts that do not refer to a given time period, e.g. long term in accounting means more than 1 year, but long run in economics may take years to come.

Long run refers to the amount of time it takes for an economic variable to adjust to economic changes.

If Canada's increase in labor costs is paired with an increase in productivity (usually new technologies), then the economy should be able to grow since private consumption and investment will increase due to higher wages.

Explanation:

6 0
3 years ago
Harrison owns a convertible bond with an 6% annual coupon and a $1,000 face value. It matures in 15 years and can be exchanged f
raketka [301]

Answer:

$953

Explanation:

According IFRS the equity and Liability portion of a bond should be recorded separately at the time of bond Issuance. The Liability portion can be calculated current value of the similar non convertible bonds and the difference between the Present value of cash flows and total proceeds from bond is the equity value.

Convertible Bond are value at the present value of their cash flows.

Use following formula to calculate the value of the bond.

Value of the Bond = C x [ ( 1 - ( 1 + r )^-n ) / r ] + [ F / ( 1 + r )^n ]

Value of the Bond = ($1,000 x 6%) x [ ( 1 - ( 1 + 6.5% )^-15 ) / 6.5% ] + [ $1,000 / ( 1 + 6.5% )^15 ]

Value of the Bond = $952.99

3 0
3 years ago
Suppose disposable income increases by $ 2,000. As a result, consumption increases by $ 1,500. 1. The increase in savings result
NeTakaya

Answer:

1. The increase in savings resulting directly from this change in income is $500

That is

Increase in savings = Increase in income minus increase in consumption

= 2000 - 1500

= $ 500

2.The marginal propensity to save (MPS) is calculated by dividing the change in savings by the change in income.

That is

ΔS/ ΔY,

Therefore given

Change in savings =ΔS =$500

Change in income =ΔY = $2000

MPS = 500/2000

MPS = 0.25

3.The marginal propensity to consume (MPC) is calculated by dividing change in consumption by changes in come.

That is ΔC / ΔY

Where ΔC = 1500

ΔY = 2000

Therefore MPC = 1500/2000

= 0.75

1. The increase in savings resulting directly from this change in income is $

8 0
3 years ago
Please help me answer these questions​
Murljashka [212]

Answer: See explanation

Explanation:

1. Inelastic demand occurs when a change in price doesn't really have an effect on the quantity of the goods demanded. Examples of products with inelastic demand are salt and prescription drugs.

2. Elasticity for demand helps in the determination of the prices of factors of production. It is also vital in knowing how price changes will affect the revenue of the firm.

3. Normal goods are the goods that when income increases, the demand for them increases as well e.g. household appliances

For inferior goods, when Income increases, their quantity demand reduces. These are common with extremely cheap products.

7 0
3 years ago
Other questions:
  • The 2018 balance sheet of Speith’s Golf Shop, Inc., showed long-term debt of $5.4 million, and the 2019 balance sheet showed lon
    8·1 answer
  • Vang Enterprises, which is debt-free and finances only with equity from retained earnings, is considering 7 equal-sized capital
    13·1 answer
  • At a price $4 for good x, a firm is willing to supply 1,400 units of x. for a price of $5 for good x, the firm is willing to sup
    5·1 answer
  • Jones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet. The curren
    7·1 answer
  • Orange Corporation is developing standards for its products. Product A requires a material that is purchased for $80.00 per poun
    6·1 answer
  • Gold Company was experiencing financial difficulties, but was not bankrupt or insolvent. The National Bank, which held a mortgag
    10·1 answer
  • Suppose the economy is in long-run equilibrium. Then because of corporate scandal, in- ternational tensions, and loss of confide
    10·1 answer
  • Marylin and Andy live together and are co-owners of a property but are not married. What is the most likely form of co-ownership
    8·2 answers
  • On November 1, 2021, Taylor signed a one-year contract to provide handyman services on an as-needed basis to King Associates, wi
    13·1 answer
  • Economic growth can best be portrayed as a:
    12·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!