The Primary Responsibility of Top Management Is To

question 36

Multiple Choice

The primary responsibility of top management is to:

• A) perform the organization's SWOT analysis.
• B) determine goals, strategy, and design, in adaptation to environment.
• C) set a motivating culture for all employees.
• D) formalize and centralize the firm.

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Definitions:

Employ More Labor

The process of hiring additional personnel to increase the output or productivity of a business.

Employ More Capital

The process of investing additional funds or resources into a business to increase its capacity or efficiency.

Marginal Product

The boost in production resulting from one more unit of input.

Total Product Curve

A graphical representation showing how the total quantity of output produced by a firm varies with the quantity of a variable input, keeping all other inputs constant.