Many Organizations Today Are Increasing the Decision- Making Discretion of Workers

question 2

True/False

Many organizations today are increasing the decision- making discretion of workers by redesigning their jobs. Management calls this practice empowerment.

Grasp the significance of Organizational effectiveness and strategies in the context of OD.

Recognize the impact of organizational culture and its importance in the process of OD.

Understand different OD strategies and techniques, including their focus on continuous improvement, team building, and quality management.

Understand the historical foundations and evolution of psychology.

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Definitions:

Profit-maximizing

A strategy where a firm sets its production level and pricing to achieve the highest possible profit.

Resource Combination

The process of organizing and combining different resources like capital, labor, and raw materials, to produce goods or services.

MRPS

Marginal Revenue Product of Labor, a measure of the additional revenue generated by hiring an additional worker, holding other factors constant.

Profit-maximizing Rule

A principle guiding businesses to set their output and prices at levels where marginal cost equals marginal revenue to maximize profit.