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During the Evolution of Modern Management, When Crafts Production Was

question 47

Essay

During the evolution of modern management, when crafts production was being replaced by large factories, why did owners and managers struggle with challenges and need to focus more on management?


Definitions:

Incentive Obstacles

Factors that hinder the effectiveness or implementation of incentive programs designed to motivate specific behaviors or outcomes.

Information Processing Obstacle

Challenges faced in capturing, processing, storing, and disseminating information that can impede efficient decision-making and operations in an organization.

Forecast

A prediction or estimate of future events or trends, particularly regarding weather, market conditions, or sales figures.

Statistics

Statistics is the branch of mathematics dealing with the collection, analysis, interpretation, and presentation of masses of numerical data, used for making decisions and predicting trends.

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