Firms Will Only Adopt More Automated Methods of Production When

question 47

Multiple Choice

Firms will only adopt more automated methods of production when

• A) they reduce the need for workers.
• B) they lower production costs.
• C) they lengthen the production process.
• D) other firms in the industry are doing it.

Understand the impact of leadership styles on organizational culture and employee development.

Understand the criteria used by financing institutions in lending decisions.

Recognize the significance of debt-to-equity ratios for new and young businesses.

Differentiate between various types of financial obligations on a balance sheet.

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Definitions:

Performance Management System

A framework for managing and evaluating employee performance towards achieving business objectives.

Customer Satisfaction

Measures how well a company’s products or services meet or surpass customer expectations.

Job Design

The process of defining how work will be performed and what tasks will be required in a given job.

Empowerment

A management practice of sharing information, rewards, and power with employees so that they can take initiative and make decisions to solve problems and improve service and performance.