When Following the Management by Objectives Process, If Conditions Change

question 57

Multiple Choice

When following the management by objectives process, if conditions change which of the following is FALSE?

• A) It can be important to have a willingness to change objectives in midstream.
• B) It may no longer be appropriate to use the original objectives.
• C) There is no point in continuing work toward inappropriate objectives.
• D) There is no need to change objectives.

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Definitions:

Wage Rate

The amount of payment that a worker receives per unit of time (hourly, daily, etc.) or per unit of output.

Substitute Resources

Alternative products or services that can replace each other in use, offering consumers choices and influencing supply and demand dynamics in markets.

Employment of Land

The use of land resources for productive or economic activities, including farming, building, or conservation efforts.

Substitution Effect

The economic principle that as the price of one good increases, consumers will replace it with a cheaper alternative, assuming the utility derived remains unchanged.