Since in the question it is mentioned that Marry who works for a small computer software based company. Her boss is improving the products of the company in a constant way but at the same time he avoided the customers, billing and the company promotion
So here the boss is stuck in the production oriented as he full focused on improving the products so that he could produce the high quality products by applying the innovation
The opportunity cost of working is the amount of money sacrificed or could have earned if the individual was not working. In this case, Claire has decided to go with her friend which means that the opportunity cost of not working is less than the benefits receives from going out. Because she is not working it means that the opportunity cost of working is more than 36 dollars, which is the income she could have earned in 3 hours.
Management refers to the ability or art of setting objectives, organizing, motivating the people resources, devising systems of measurement, and building human capacity towards the attainment of all organization objectives.
Explanation:
1. Defining Objectives: This flows down from the Founder and Chief Vision Officer. The objectives of an organization is the purpose for which an organization was set up. An example could be to give people living with a disability the opportunity to live inclusively, attaining their highest selves.
2. Organizing: When objectives are taken and put in form of goals, these goals are devolved through to management in the form of achievable tasks who then delegate them to staff. The process of ensuring that each staff know their tasks, who they are accountable to, and work together harmoniously is called Organising.
3. Motivating team: It is not enough to have human resources. It is critical that they be willing to work together, harmoniously and happily. This way, the company enjoys the highest performance possible.
4. Defining Performance Indicators
What is not measured can not be managed. Performance Indicators are systems of measurement that enable the organization to keep track of whether or not the goals are being met and in what measure they are.
5. Building Capacity
Organizations that build leaders the fastest are the ones that win. Building human capacity is the equivalent of upgrading machinery or opting for higher manufacturing technology in the industrial age. People are able to solve problems to the extend that they know how to. The more they know, the better and faster they are at solving such problems. Hence, increasing organizational competency and effectiveness.
