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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.

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Mr. Barker enjoys a comfortable retirement income. He recently had surgery and expected that he would have certain services and
olasank [31]

Answer:

What you could tell him is that you can offer to help him review all the plans appeal process as well as to help him ask the plan to review his coverage decision which will enable him to know why he had large charges in excess of his maximum out-of-pocket limit.

Explanation:

Based on the information given we were told that when he received the bill, their was large charges in excess of his maximum out-of-pocket limit which is a limit on the amount of money a person or an individual have to pay for covered medical care services in which we were still told that the large charges in excess of his maximum out-of-pocket limit also include a number of services and items he thought would be fully covered, therefore since he called you to ask what he could do, What you could tell him is that you will offer to help him review all the plans appeal process and to as well help him to ask the plan to review the coverage decision which is why coverage decision is of benefit because it enables a person or an individual to makes decision about their benefits including the amount they have to pay for their medical services plan.

6 0
3 years ago
What does reconciling an account mean?
Gala2k [10]

Reconciliation is the accounting process of comparing two data sets to ensure that the numbers are correct and consistent.

Reconciling bank statements simply means comparing your internal financial records with those provided by your bank. This process is critical to being able to identify anomalous transactions caused by fraud or accounting errors.

All businesses are required to reconcile their banks at least once a month. It is convenient to reconcile the books immediately after the end of the month, as at the end of the month your bank will send you a monthly statement that you can use as the basis for your reconciliation. Balance sheet reconciliation is the process of closing the balances of all individual companies.

Learn more about Reconciliation here:- brainly.com/question/15525383

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8 0
1 year ago
One reason governments impose taxes is to:
muminat
Make money for the government
3 0
3 years ago
Windhoek Mines, Ltd., of Namibia, is contemplating the purchase of equipment to exploit a mineral deposit on land to which the c
grin007 [14]

Answer:

Windhoek Mines, Ltd.

The net present value of the proposed mining project is:

=  ($232,950).

Explanation:

a) Data and Calculations:

Cost of new equipment and timbers = $500,000

Working capital required  = $100,000

Annual net cash receipts = $120,000

Cost to construct new roads in three years = $40,000

Salvage value of equipment in four years = $65,000

Estimated useful life of mine = 4 years

Working capital released in four years = $100,000

Required rate of return = 20%

                                                           Cash Flows   PV factor  Present Value

Cost of new equipment and timbers  $500,000      1               -$500,000

Working capital required                        100,000       1                 -100,000

Annual net cash receipts                       120,000     2.589            310,680

Cost to construct new roads in 3 years 40,000     0.579             -23,160

Salvage value of equipment in 4 years 65,000     0.482               31,330

Working capital released in 4 years     100,000     0.482              48,200

Net present value                                                                      ($232,950)

4 0
3 years ago
Company A uses the FIFO method to account for inventory and Company B uses the LIFO method. The two companies are exactly alike
ANEK [815]

Quick ratio is 1.47.

Company A uses the FIFO method to account for inventory and Company B uses the LIFO method. The quick ratio is an indicator of a company’s short-term liquidity position and measures a company’s ability to meet its short-term obligations with its most liquid assets.

Gross Profit 72000 67000

Operating expenses and interest expense 56000 53000,

Pretax Income 2200014000

Income Tax 3000 4000

Net Income 14000 10000

Balance sheet Year? Year

cash 4000 7000

Accounts Receive ab 114000 18000

Taventory 40000 34000,

Property & Equipment 45000 36000

Total Assets 302000 97000

Current Liabilities ‘i6000 4.7000

Long term Liabilities 5000 45000

Common stock 30000 30000

Retained Earnings 1120005000

Total Liabilities & Stock holders equity 10300037000,

L. Current Ratio = Current Assets / Current Liabilities

Year? Year

Current Ratio 36347

2.Quick Ratio

‘Current Assets - Inventory / Current Liabilities

Year? Year

Quick Ratio is 1.47

2.Profit Margin = Net profit /Sales

Year? Year

Profit Margin 737% 5.99%

Learn more about quick Ratio here

brainly.com/question/25894261

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4 0
2 years ago
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