As managers try to take a rational approach to decision making, they must contend with bounded rationality, which means they are restricted by:
a. real-world constraints
b. benchmarking
c. methodology validity
d. information overload
e. all of these

Answers

Answer 1

Considering these factors, managers must acknowledge the constraints of bounded rationality and strive to make the best decisions within the limitations they face. The correct answer is (e) all of these.

Bounded rationality refers to the idea that managers are limited or restricted in their decision-making process due to various factors. They cannot always fully optimize decisions due to constraints imposed by the real world, benchmarking practices, methodology validity, and information overload.

a. Real-world constraints: Managers operate within the constraints of resources, time, budget, regulations, and other practical limitations. These constraints can impact the available options and influence decision-making.

b. Benchmarking: Managers often compare their decisions and performance to industry standards or best practices known as benchmarking. While benchmarking can provide valuable insights, it can also limit decision-making by conforming to existing norms rather than exploring innovative alternatives.

c. Methodology validity: Managers rely on decision-making methodologies and frameworks to structure their thinking. However, the validity of these methodologies may be limited in capturing the complexity and uncertainty of real-world situations.

d. Information overload: Managers face an abundance of information and data, which can lead to information overload. Processing and synthesizing large amounts of information can be challenging, impacting their ability to make fully rational decisions.

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Related Questions

How important are signs.symbols and designs in relation to carpentry?if you do not have access to internal.you may answer based on your opinion

Answers

Answer:

Symbols—such as gestures, signs, objects, signals, and words—help people understand that world. They provide clues to understanding experiences by conveying recognizable meanings that are shared by societies.

Explanation:

I HOPE IT HELPS PO...☺️☺️☺️

What degree of risk is necessary to classify an activity as ultrahazardous?
A. No risk is needed
B. Moderate degree
C. High degree
D. Low degree

Answers

what degree of risk is necessaryto classify anactivity as ultrahazardous?

C is the answer

Which is always a cost when buying insurance?

premium
deductible
co-payment
payout

Answers

Answer:premium

Explanation:

The cost of buying insurance is premium.

What is insurance?

Insurance is an arrangement between a company and a person or group of people where the company agrees to pay the person a certain amount of money if an event occurs and certain conditions are met.

Types of insurance include:

Life insurance Health insurance Property insurance.

The individual(s) that is being insured must pay a certain amount of money at certain times to the insuring company. This is known as the premium.

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T/F. The accounts payable account is listed in the chart of accounts as an asset.

Answers

False. The accounts payable account is not listed in the chart of accounts as an asset.

The chart of accounts is a categorized list of all the accounts used by a company to record its financial transactions. It provides a systematic way to organize and track various types of accounts.

Accounts payable is a liability account that represents the amount a company owes to its suppliers or vendors for goods or services received but not yet paid for. Liabilities are obligations or debts owed by a company, and they are typically listed separately from assets in the chart of accounts.

Assets, on the other hand, represent the resources owned by a company that have economic value. They include items such as cash, accounts receivable, inventory, and property.

The accounts payable account is categorized as a liability and is not listed as an asset in the chart of accounts.

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according to research on competitive dynamics, which strategic profile contains firms that have the highest likelihood of being a "responder" to an action taken by a competitor?

Answers

According to research on competitive dynamics, firms that exhibit a "follower" strategic profile are more likely to be responders to actions taken by competitors.

The follower profile is characterized by a company that is reactive and tends to imitate or follow the actions of other firms within the industry. This profile is often associated with companies that lack innovation and creativity in their business strategy and are typically more risk-averse.

Research has shown that follower firms tend to be more reactive to competitive actions, such as price changes, product launches, or marketing campaigns, than proactive in initiating such actions themselves.

They are more likely to copy the actions of their competitors rather than innovate themselves. In conclusion, firms that exhibit a follower strategic profile are more likely to be responders to actions taken by competitors.

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has the marrying age of a man changed over the years? the united states bureau of the census takes a formal count of everyone in the u.s. every 10 years and has provided the following data that gives the median age of an american man at the time of his first marriage.

Answers

The average rate of change in median age per year from 1950 to 1990 is approximately 0.0825 years of age per year. Hence the correct answer is option a).

Average rate of change = (Change in median age) / (Change in years)

The change in median age from 1950 to 1990 is:

Change in median age = Median age in 1990 - Median age in 1950

Change in median age = 26.1 - 22.8

Change in median age = 3.3 years

The change in years from 1950 to 1990 is:

Change in years = 1990 - 1950

= 40 years

Now we can calculate the average rate of change:

Average rate of change = (Change in median age) / (Change in years)

Average rate of change = 3.3 / 40

Average rate of change = 0.0825 years of age per year

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The complete question is:

Has the marrying age of a man changed over the years? The United States Bureau of the Census takes a formal count of everyone in the U.S. every 10 years and has provided the following data that gives the median age of an American man at the time of his first marriage.

Year / Median Age

1910 / 25.1

1920 / 24.6

1930 / 24.3

1940 / 24.3

1950 / 22.8

1960 / 22.8

1970 / 23.2

1980 / 24.7

1990 / 26.1

2000 / 26.8

Determine the average rate of change in median age per year from 1950 to 1990.

a.) 0.0825 years of age per year

b.) 0.825 years of age per year

c.) 1.21 years of age per year

d.) -1.21 years of age per year

what to argue about financial literacy​

Answers

Answer: Finance Course Prompts Debate,” argues that “the $600,000 is a low cost if the [financial literacy program] is effective. An

effective course will return that investment,” speaking in reference to the cost of the program. Courses, especially financial

literacy, greatly give back on investments made in them by using the students’ education gained from the class.

Explanation:

annual demand for 7,000 Everlast Leaders. The manager, Stephan Wagner, has determined that the ordering cost is \( \$ 15 \) per order and the carrying cost, as a percentage of unit cost, is \( 18 \% \

Answers

The required answer is $15n + 0.18c \times 7,000.

The carrying cost of a product is the cost that a company incurs for holding its inventory for a certain period.

It is calculated as a percentage of the unit cost of the item.

To answer the given question, we need to find the total cost of the annual demand of 7,000 Everlast Leaders.

The ordering cost is given as $15 per order.

So, for an annual demand of 7,000 units, the number of orders placed is the ratio of total demand to the demand per order.

This is given as:

\frac{7,000}{x}=n

where x is the demand per order and n is the number of orders. We need to find x.

Rearranging the above equation gives:

x = \frac{7,000}{n}

The annual ordering cost is the product of the number of orders and the cost per order, which is $15.

Therefore, the total annual ordering cost is given as: 15n

The carrying cost is given as 18% of the unit cost of the item.

Let c be the unit cost of one Everlast Leader.

The annual cost of carrying one unit is then: 0.18c

The total cost of carrying all units for a year is the product of the carrying cost per unit and the annual demand.

This is given as:$0.18c \times 7,000

The total annual cost is the sum of the annual ordering cost and the annual carrying cost.

This is given as:

15n + 0.18c \times 7,000

Therefore, the required answer is $15n + 0.18c \times 7,000$.

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Juan is interested in becoming a machinist, but he is worried about finding a
job at a manufacturer. Which of the following statements is the most
accurate response to his concerns?
A. In our global economy, most job growth will be in services, but
manufacturing jobs will exist, too.
B. In our global economy, machinist jobs no longer exist.
c. In our global economy, the only jobs available will be service jobs.
D. In our global economy, most available jobs will be in
manufacturing, but service jobs will exist, too.

Answers

Answer:

the answer is A. In our global economy, most job growth will be in services, but manufacturing jobs will exist, too.

Explanation:

Answer:

In our global economy, most job growth will be in services, but

manufacturing jobs will exist, too.

Explanation:

What is a reading credit card statement

Answers

The amount of all charges on your credit card account during the statement period.

The process of making decisions about goals and activities that an organization will pursue in the future is referred to as.

Answers

The process whereby a organization makes decisions about what they will do in the future is known as planning.

What is planning?

Planning simply means the process of thinking in order to achieve a desirable goal.

Planning is the process of making decisions about goals and activities that an organization will pursue in the future.

Organizations make plans in order to increase sales, revenue, etc.

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the yall dont just put the answer all that
typing

Answers

Answer:

I don’t understand

Select the correct answer.
You are reading product reviews posted online by consumers. Which external information source are you using?
company website
industry website
Ο Ο Ο Ο
social media
print media
E.
consumer report

Answers

Answer:

social media

Explanation:

External sources of information refer to sources outside the organization. It is information produced or published by other independent agencies other than the company.  External sources originate outside of the organization.

An organization does not have control over external sources.  Examples of external sources include government statistics, newspapers, survey findings, social media, and archives. Online means through the internet. From the list provided, social media requires internet connectivity information and an external source of information.

Answer: for plato users

C . Social media is the correct answer

Explanation:

What types of planning can be done to improve a nation’s economy?
A nation can undergo ____ planning or ___ planning in order to improve its economy.

Answers

Answer:

A nation can undergo long-term planning or constructive planning in order to improve its economy. Long-term planning involves setting goals and implementing policies that will have an impact over a period of several years. This type of planning may involve investments in education, infrastructure, and research and development, among other areas. Constructive planning involves implementing policies that encourage economic growth and development, such as reducing barriers to trade, promoting entrepreneurship and innovation, and investing in key industries. These types of planning can help a nation to create jobs, increase productivity, and improve living standards for its citizens. THANK YOU

If you were a Utilization Management (UM) reviewer, what challenges do you think would arise when you contest a doctors recommendations of a patient (ie: a doctor recommends a patient be hospitalized, however, you do not believe it is necessary).
100 words

Answers

As a Utilization Management (UM) reviewer, some of the challenges that might arise when contesting a doctor's recommendation for a patient might include resistance from the doctor, the patient's family or caregiver, as well as the patient themselves.

Another challenge could be the limited information available to the reviewer or differences in medical expertise between the reviewer and the treating physician. The reviewer may also face challenges from the hospital or insurance company policy and guidelines that must be followed.

Furthermore, the medical records and documentation may not be up to standard or accurately reflect the patient's current condition, which could pose a challenge. Additionally, the reviewer may need to consider the economic factors involved and balance the costs versus the benefits of hospitalization.

Overall, being a UM reviewer requires a strong knowledge of medical practices and an ability to communicate effectively with patients, caregivers, physicians, and insurers to make the best decisions for the patient's health and well-being.

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If Johanna wants to label the x- and y-axes, she should click Layout, then .

Answers

Answer:Labels group

Explanation:

i believe

How old will someone who graduated high school at 18 be until they get a Masters Degree in civil engineerings ?

Answers

Answer:22 years

Explanation:

_____ occur when consumers feel that making the wrong decision might cause some concern or anxiety.

Answers

Psychological risk occur when consumers feel that making the wrong decision might cause some concern or anxiety.

Psychological risk refers to situations in which a product's consumption may impair the consumer's self-esteem or self-perception.

The Psychological Risk refers to whether the product or service aligns with the prospect's sense of self-identity. For example, your 16-year-old son might want nothing more than driving the strip in a flashy red sports convertible, but the only vehicle available for the trip is mom's minivan. The offered product and the teenager's sense of self-identity are at odds in this situation.

When quick cake mixes were first released, most housewives were hesitant to utilize the product. Why? Similarly to the instant coffee narrative, the perception of "What type of mother or wife would offer this to her family" was ever there in the consumer's thoughts. The problem, the researchers observed, was that baking the cake was too simple, and individuals did not feel "engaged" in its creation. 

Marketers must guarantee that their product is congruent with the customer's self-identity.

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please answer all of the following question
You need to form a portfolio using two risky assets Asset E(R) Sigma Asset A 12% 18% Asset B 17% 25% The correlation coefficient between Asset A and Asset B is 0.25
a) what is the weight of asset A in the minimum variance portfolio? (four decimals, no %)
b)Assume that risk-free rate is 5%, what is the weight of Asset A in the portfolio which has the highest Sharpe ratio? (four decimals, no %)
c)Use the same portfolio information as above. Assume that risk-free rate is 5% and your degree of risk-aversion is 6. Now in addition to investing these two risky assets, you can also invest in one risk-free asset. What is the weight of each asset (Asset A, Asset B, and the risk-free asset) in the optimal portfolio which gives you the highest utility?
Weight of Asset A =
Weight of Asset B =
Weight of the risk-free asset =
(four decimals, no %)

Answers

A) the weight of Asset A in the minimum variance portfolio is 0.5185 (or 51.85%).B) the weight of Asset A in the portfolio with the highest Sharpe ratio is 0.5385 (or 53.85%). C) the weight of Asset A in the optimal portfolio is 0.0078 (or 0.78%), the weight of Asset B is 0.0107 (or 1.07%), and the weight of the risk-free asset is 0.9815 (or 98.15%).

a) The weight of Asset A in the minimum variance portfolio can be calculated as follows:
W_A = (σ_B^2 - ρ_ABσ_Aσ_B)/(σ_A^2 + σ_B^2 - 2ρ_ABσ_Aσ_B)
Where W_A is the weight of Asset A, σ_A is the standard deviation of Asset A, σ_B is the standard deviation of Asset B, and ρ_AB is the correlation coefficient between Asset A and Asset B.
Plugging in the given values:
W_A = (25^2 - 0.25*18*25)/(18^2 + 25^2 - 2*0.25*18*25) = 0.5185
Therefore, the weight of Asset A in the minimum variance portfolio is 0.5185 (or 51.85%).
b) The weight of Asset A in the portfolio with the highest Sharpe ratio can be calculated as follows:
W_A = (E(R_A) - R_f)/(E(R_A) - R_f + E(R_B) - R_f)
Where W_A is the weight of Asset A, E(R_A) is the expected return of Asset A, R_f is the risk-free rate, and E(R_B) is the expected return of Asset B.
Plugging in the given values:
W_A = (0.12 - 0.05)/(0.12 - 0.05 + 0.17 - 0.05) = 0.5385
Therefore, the weight of Asset A in the portfolio with the highest Sharpe ratio is 0.5385 (or 53.85%).
c) The weights of Asset A, Asset B, and the risk-free asset in the optimal portfolio can be calculated as follows:
W_A = (E(R_A) - R_f)/[A(σ_A^2 + σ_B^2 - 2ρ_ABσ_Aσ_B)]
W_B = (E(R_B) - R_f)/[A(σ_A^2 + σ_B^2 - 2ρ_ABσ_Aσ_B)]
W_f = 1 - W_A - W_B
Where W_A is the weight of Asset A, W_B is the weight of Asset B, W_f is the weight of the risk-free asset, E(R_A) is the expected return of Asset A, R_f is the risk-free rate, E(R_B) is the expected return of Asset B, A is the degree of risk-aversion, σ_A is the standard deviation of Asset A, σ_B is the standard deviation of Asset B, and ρ_AB is the correlation coefficient between Asset A and Asset B.
Plugging in the given values:
W_A = (0.12 - 0.05)/[6(18^2 + 25^2 - 2*0.25*18*25)] = 0.0078
W_B = (0.17 - 0.05)/[6(18^2 + 25^2 - 2*0.25*18*25)] = 0.0107
W_f = 1 - 0.0078 - 0.0107 = 0.9815
Therefore, the weight of Asset A in the optimal portfolio is 0.0078 (or 0.78%), the weight of Asset B is 0.0107 (or 1.07%), and the weight of the risk-free asset is 0.9815 (or 98.15%).

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Hair Stylist Woes. Maryann went to see her hair stylist, Candy. Maryann, who had black, curly hair, requested straight, blond hair. Candy told her that she could make that change, but there would be significant upkeep involved. Candy made the change, but Maryann did not do the upkeep required. She also falsely claimed that Candy did not do what Maryann asked her to do, that Candy lied to her, and that Candy was professionally incompetent. Maryann made the statements to friends of hers. She also wrote an editorial in her college newspaper to the effect that Candy's shop should be avoided at all costs because Candy was incompetent. In fact, Candy was a good hair stylist and enjoyed a good reputation up until the time that Maryann started her criticism. Candy threatened to sue Maryann for defamation, but Maryann told Candy that Candy could not prevail because Candy could not prove loss of income. Candy had to admit that while her reputation had been damaged somewhat, the damage was primarily among the college population. Her income kept increasing from other segments of the community, and she had suffered no net loss. As far as the statements Maryann made to her friends, which of the following is true in regards to her statement that Candy cannot recover because Candy has not suffered a loss of income?
A. Maryann is correct.
B. Maryann is correct only if she can establish that she did not intend to cause economic loss to Candy.
C. Maryann is incorrect because her actions would be considered liable per se.
D. Maryann is incorrect because general damages would be presumed.
E. Maryann is incorrect because Candy has proven special damages.

Answers

The statement in regards Candy is that Maryann is incorrect because general damages would be presumed. Thus the correct option is (D).

What are General Damages?

Damages that inevitably and directly result from a contract breach. Or, to put it another way, those losses that, in a perfect world, every damaged party would sustain is known as the General Damages.

As per the above situation, Candy is suffering from the loss of the reputation due to the Maryann actions against her for writing the editorial and spreading the wrong news about her saloon.

Candy is the subject of the claim, and Maryann is mistaken since general damages would be assumed. hence, the appropriate choice is (D).

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Your company is looking at purchasing a front-end loader and has narrowed the choice down totwo loaders. Loader 1 costs $150,000 with a useful life of seven years with a salvage value of
$10,000 at the end of the seventh year. Loader 2 costs $110,000 with a useful life of five years
with a salvage value of $10,000 at the end of the fifth year. The annual profit for either one is
$20,000. Using a MARR of 20%, which alternative should your company buy?

Answers

Based on the provided information and a minimum attractive rate of return (MARR) of 20%, the company should choose Loader 1 over Loader 2 for purchase.

To determine the better option, we need to calculate the present worth (PW) of each loader and compare them. Loader 1 has a useful life of seven years, and Loader 2 has a useful life of five years.

Both loaders have a salvage value of $10,000 at the end of their respective lifespans.

For Loader 1, the initial cost is $150,000, and the annual profit is $20,000.

Using the MARR of 20%, we can calculate the annual equivalent worth (AE) of the annual profit using the formula AE = (Annual Profit - Salvage Value) / (1 + MARR)^n, where n is the number of years. Substituting the values, AE1 = ($20,000 - $10,000) / \((1 + 0.20)^7\)= $9,090.91.

For Loader 2, the initial cost is $110,000, and the annual profit is also $20,000. Similarly, calculating the AE, we get AE2 = ($20,000 - $10,000) / (1 + 0.20)^5 = $10,909.09.

To find the PW, we multiply the AE by the appropriate factor: PW = AE * (1 + MARR)^n. For Loader 1, PW1 = \($9,090.91 * (1 + 0.20)^7\) = $53,527.19. For Loader 2, PW2 = $10,909.09 * (1 + 0.20)^5 = $55,114.80.

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EXAMPLE 1: invests $500 at a simple
interest rate of 6%. How much interest will he earn in
one month? In six months? In one year?

Answers

One month: $30
Six months: $180
One year: $360

If a check correctly written and paid by the bank for $603 is incorrectly recoreded on the company's books for $630, the appropriate treatment on the bank reconciliation would be to?

Answers

The appropriate treatment on the bank reconciliation would be to add $27 to the book's balance.

What is bank reconciliation?

Bank reconciliation is a critical accounting procedure in which firms compare their bank statements to the transactions recorded in their general ledger.

The check was duly drafted and paid by the bank, and the right amount was $630. $603 was mistakenly deducted from the books. To correct this, $27 should be re-added to the book balance.

Check difference = Correct amount − Amount recorded

                            = $630 − $603

                            = $27

Therefore, it can be concluded that appropriate treatment is to add $27 to the book's balance.

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A company's january 1, 2022 balance sheet reported total assets of $155,000 and total liabilities of $62,500. During january 2022, the company completed the following transactions: (a) paid a note payable using $12,500 cash (no interest was paid); (b) collected a $11,500 accounts receivable; (c) paid a $5,500 accounts payable; and (d) purchased a truck for $5,500 cash and by signing a $22,500 note payable from a bank. The company's january 31, 2022 balance sheet would report which of the following?

Answers

The company's January 31, 2022 balance sheet would report total assets of $159,500 and total liabilities of $77,000. This is because of the following transactions that were completed during the month of January:

Paid a note payable using $12,500 cash (no interest was paid): this reduced total liabilities by $12,500.Collected a $11,500 accounts receivable: this increased total assets by $11,500.Paid a $5,500 accounts payable: this reduced total liabilities by $5,500.Purchased a truck for $5,500 cash and by signing a $22,500 note payable from a bank: this increased total assets by $5,500 and increased total liabilities by $22,500.


Therefore, total assets would increase by $11,500 + $5,500 =

, respectively.

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How important is money

Answers

Answer:

very important

Explanation:

money is a global income source for everyone. we all have different types but it is all still money. now say one country got rid of money and had people pay for stuff using other things. if china did that lots of different countries wouldn't be able to get stuff from there unless they had so much of that product they could just give it up.

2. Which of the following is an example of an operative employee? A. Regional manager B. Head coach C. Chairman of the board D. Assembly line worker C​

2. Which of the following is an example of an operative employee? A. Regional manager B. Head coach C.

Answers

D. Assembly line worker

An example of an operative employee is an assembly line worker.

The following information should be relevant:

Operating employees are those employees who generate the products & services directly for an organization.Also, it does not supervise the work of others. So, the option a, b, and c are incorrect.

Therefore we can conclude that an example of an operative employee is an assembly line worker.

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In plating, the meat is placed between ___ o’clock position.

Answers

Answer:

between 3-9

Explanation:

which one of the following is true about dividend growth patterns? multiple choice question. dividends never have a zero growth rate. dividends always reduce at a differential rate. dividends may grow at a constant rate. dividends never grow.

Answers

The correct answer is "dividends may grow at a constant rate."

A constant dividend growth rate is a dividend payout strategy in which a company pays out a constant amount of dividend per share each period, usually annually, and increases the dividend payout by a fixed percentage each year. This type of dividend growth pattern is preferred by investors who seek a stable and predictable income stream. It is not necessary that dividends never have a zero growth rate or always reduce at a differential rate. Dividends may not grow, especially when a company is facing financial difficulties, or the board decides to retain earnings for reinvestment purposes.

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Which characteristic is least appropriate for an emergency action plan

Answers

The least appropriate characteristic for an emergency action plan in a business context is inflexibility.

An emergency action plan is a crucial component of any business's preparedness and response strategy. It outlines procedures and guidelines to ensure the safety and well-being of employees, visitors, and assets during emergency situations. While there are several essential characteristics that an effective emergency action plan should possess, one characteristic that is least appropriate is inflexibility.

Here's an explanation of why inflexibility is not suitable for an emergency action plan:

1. Adaptability to Various Scenarios: Emergencies can vary in nature and severity, ranging from natural disasters to accidents or security threats. An effective emergency action plan should be adaptable to address different types of emergencies. It should provide guidelines and procedures that can be adjusted and tailored to specific situations, rather than being rigid and unyielding.

2. Real-Time Decision-Making: During an emergency, circumstances can change rapidly, requiring quick decision-making and flexibility. An inflexible plan may hinder the ability to make timely adjustments based on evolving conditions. A responsive and adaptable plan allows for real-time decision-making, taking into account new information and circumstances as they arise.

3. Employee Engagement and Ownership: Involving employees in the development and implementation of an emergency action plan is crucial for its effectiveness. Employees possess valuable knowledge and insights about their work environment and can contribute to identifying potential risks and appropriate response strategies. An inflexible plan may discourage employee engagement and ownership as it does not allow for their input and suggestions.

4. Continuous Improvement: An effective emergency action plan should be subject to periodic review and improvement. As new information, technologies, and best practices emerge, it is essential to update and refine the plan accordingly. An inflexible plan may hinder the process of continuous improvement, preventing the incorporation of new knowledge and advancements.

5. Legal and Regulatory Compliance: Emergency action plans often need to comply with specific legal and regulatory requirements. These requirements may change over time, necessitating updates to the plan. An inflexible plan may fail to meet evolving compliance standards, potentially leading to legal and operational risks.

In conclusion, an inflexible emergency action plan is not suitable for a business context. The plan should be adaptable, allowing for adjustments based on various scenarios, real-time decision-making, employee engagement, continuous improvement, and compliance with legal and regulatory requirements. Flexibility ensures that the plan remains relevant and effective in addressing emergencies while prioritizing the safety and well-being of individuals and the business as a whole.


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Management at work you are the proud owner of a small vintage clothing store. your store, fantastic 40s, specializes in clothing from the 1940s. you have four great employees, rebecca, rachel, roberto, and rafael. at first, business was good, but, recently, you have noticed that sales are slipping. puzzled, you turn to your management textbook for some ideas on how to turn things around.

Answers

Answer:

You measure sales over time and realize that the months of July, August, and September are particularly slow. As a result, you ask two of your sales clerks if they would be willing to work part-time during those months. Management Science.

Management science refers solving problems and making decisions in a company in order to move it forward. By preferring solutions to the problem of slow sales over some months, you have engaged in management science.

You make sure that when you hire new people, you get input from each of the existing team members. if they're happy with the new hire, they're more likely to make that person part of the team, and the team will sell more. Humanistic Management Theory.

With Humanistic Management, the needs, wants and thoughts of employees are taken into account when making decisions because employees are not viewed as simple assets to the company but as humans who are complex. By finding out what your employees think of a new hire you are engaging in the Humanistic theory.

You notice that when customers have too many choices, they are less likely to make a decision about what to buy, so you tell all of your employees to bring out only three things at one time. In addition, you start to pay your employees a commission for every item they sell. Classical Management theory.

Classical management is based on certain premises such as the needs of employees being either physical or economic as well as profit maximization. By offering commissions as incentives you are appealing to the economic need of your employees. By engaging in practices aimed at getting people to buy more, you are engaging in profit maximization.

A customer survey shows that the men who come into the store would prefer to be left alone while they shop, but the women who come into the store want to be asked if they need assistance. you tell your employees to leave men alone and ask women if they want help. Contingency Theory.

Contingent Theory shows that for each situation in a company, it is best to manage it based on the internal and external factors affecting it. In this case men don't need help but women prefer it. Offer help to women but not to men. You are therefore basing actions on the factors affecting this situation.

Management at work you are the proud owner of a small vintage clothing store. your store, fantastic 40s,
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