To Obtain Scarce Resources Given a Rapidly Changing and Uncertain

question 25

Multiple Choice

To obtain scarce resources given a rapidly changing and uncertain external environment, what would you recommend managers do?

• A)Establish restrictive norms to guide employee activities.
• B)Centralize authority.
• C)Use a mechanistic form of organizing.
• D)Maintain control of employee activities.
• E)Create an entrepreneurial culture.

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Definitions:

Periodic Inventory System

An inventory accounting system that updates inventory balances and cost of goods sold at the end of an accounting period.

Cost Of Goods Sold

A financial measure that calculates the cost incurred to produce products sold by a company, including materials and labor.

Gross Profit

The income a business earns once it subtracts the expenses involved in producing and marketing its goods, or the expenses related to delivering its services.

Other Revenue And Expenses

These refer to the income and costs that are not related to the main business activities of a company.