Scientific Management Is the Process of

question 56

Multiple Choice

Scientific Management is the process of

• A)using research to develop the optimum degree of specialization and standardization of work tasks.
• B)developing a strict set of rules and regulations.
• C)developing a strict chain of command.
• D)establishing objective criteria for promotion and selection of employees.
• E)centralizing power at the top of organizations.

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Definitions:

Equivalent Annual Annuity

The annual cash flow of an investment that yields the same present value as the investment’s costs, used in capital budgeting to compare the profitability of investments.

Payback

The period of time required for the return on an investment to "pay back" the initial capital outlay.

Cost of Capital

Cost of capital refers to the minimum rate of return a company must earn on its investments to satisfy its investors, creditors, and other providers of capital.

NPV

Net Present Value, a method for assessing the worth of a project or investment by applying a discount rate to future cash flows to ascertain their current value.