Which of the Following Statements Describes an Advantage of the Systems

question 106

Multiple Choice

Which of the following statements describes an advantage of the systems approach to management?

• A) It forces managers to be aware of how the environment affects specific parts of the organization.
• B) It makes managers acutely aware that good internal management of the organization may not be enough to ensure survival.
• C) It encourages managers to focus on better communication and cooperation within the organization.
• D) It forces managers to view their organization as part of a whole.
• E) All of these describe advantages of the systems approach to management.

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Definitions:

Competitive Firm

A competitive firm is a company that operates in a market with many buyers and sellers, where each has a negligible impact on the market price.

Short-Run Cost Curves

depict the total cost, average cost, and marginal cost of production for a firm in the short run, where at least one input is fixed.

Minimum Price

The lowest price at which a product can be sold, often regulated by law to cover costs and protect producers or consumers.

Marginal-revenue Curve

A graphical representation that shows how marginal revenue varies as the quantity of output is changed.