Managers Who Can Easily Become Distracted by Fighting the Everyday

question 61

Multiple Choice

Managers who can easily become distracted by fighting the everyday fires of business and, in the process, ignore or postpone planning succumb to what is sometimes called

• A) "Parkinson's law of planning."
• B) the "Peter principle."
• C) the "tyranny of the urgent."
• D) "Murphy's law of strategic action."

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Definitions:

Expenses

Costs incurred during a period by a business or individual in the process of earning revenue.

Function

The specific role or activity for which something is used or responsible within a system, organism, or machine.

Gross Profit Margin

Gross profit margin is a financial metric expressed as a percentage that measures the financial health of a company by indicating the proportion of money left over from revenues after accounting for the cost of goods sold (COGS).

Sales

The transactions in which goods or services are transferred from seller to buyer for money or other compensation.