The Use of Specialization to Produce More and Better Work

question 104

Multiple Choice

The use of specialization to produce more and better work with the same level of effort is consistent with the administrative management principle of:

• A) unity of command.
• B) unity of direction.
• C) scalar chain.
• D) division of work.
• E) none of these

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Definitions:

Fast-Second Strategy

a business approach where companies wait to observe the successes and failures of innovators before entering the market with a more refined and potentially more competitive offer.

Catgut

A type of cord traditionally made from the natural fibers found in the intestines of sheep and other animals, used for surgical sutures and musical instrument strings.

Trade Secret

A type of intellectual property comprising formulas, practices, processes, designs, instruments, patterns, or compilations of information that are not generally known or reasonably ascertainable, by which a business can obtain an economic advantage over competitors or customers.

Short Run

A period of time in which at least one input, typically capital, is fixed, and producers can only adjust the variable inputs like labor.