A Manager Is Overheard to Say: 'The Best Way to Manage

question 4

Multiple Choice

A manager is overheard to say: 'The best way to manage is to make sure that your response is appropriate to the demands and characteristics of the situation at hand.' His point of view is most closely associated with:

• A) bureaucracy.
• B) contingency thinking.
• C) closed-systems thinking.
• D) human relations thinking.
• E) scientific management.

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Definitions:

Differing Sizes

A term that refers to the variation in size among objects, items, or entities.

Discounted Payback Period

A capital budgeting method that calculates the time required to break even on an investment, considering the time value of money.

Payback Period

The length of time required for an investment to recover its initial outlay in terms of profits or savings, used as a measure of the investment's risk.

Required Rate

The minimum return an investor expects to achieve from an investment, taking into account its risk level.