From the 1850s Until the 1960s, the Only Real Management

question 91

Multiple Choice

From the 1850s until the 1960s, the only real management information system was the organizational hierarchy. Which of the following best describes this system?

• A)Managers used the railroads to travel to headquarters on a semiannual basis in order to report in to company leadership regarding the activities of employees.
• B)A multi-tiered structure of reporting levels and system checks provided for a regular flow of information between managers and employees.
• C)Telegraph lines connected offices in various cities, making it possible for railroad superintendents and other leadership to receive real-time information.
• D)Reports went up the management chain, then decisions were made at the top and relayed back down the chain to employees.

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Definitions:

Fixed Cost

Costs that do not vary with the level of production or sales, such as rent, salaries, and insurance expenses.

Unit Price

The cost of a single unit of product or measure, which enables comparison of costs among different sizes or types of packages.

Unit Variable Cost

The cost associated with producing one additional unit of a product, which includes materials, labor, and other variable costs.

Break-even Chart

A graphical representation showing the point at which total costs and total revenue are equal, thus indicating no profit or loss.