The Sociotechnical Systems Theory

question 113

Multiple Choice

The sociotechnical systems theory

• A) emphasizes the perspective of senior managers within the organization and argues that management is a profession and can be taught.
• B) suggests that organizations are effective when their employees have the right tools, training, and knowledge to make products and services that are valued by customers.
• C) believes that bureaucratic structures can eliminate the variability that results when managers in the same organization have different skills, experiences, and goals.
• D) advocates the application of scientific methods to analyze work and to determine how to complete production tasks efficiently.
• E) attempts to build specific procedures and processes into operations to ensure coordination of effort.

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Definitions:

Asset Retirement Obligations

Liabilities recognized for the future costs of disposing of an asset and restoring the site, typically relevant for companies with significant fixed assets.

GAAP

Commonly followed accounting rules and standards for financial reporting, referred to as Generally Accepted Accounting Principles.

Fair Value

The compensation received for an asset's sale or the expenditure for a liability's reassignment in an organized engagement with market participants on the valuation date.

IFRS

International Financial Reporting Standards, which are a set of accounting rules used globally to prepare financial statements.