In Traditional Organizations,two Approaches Emerged to Solve the Problems of Inefficient

question 1

Essay

In traditional organizations,two approaches emerged to solve the problems of inefficient organizations: the bureaucratic approach and the scientific approach.Compare these approaches.​

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Definitions:

Perpetual Inventory System

An inventory tracking system that updates item records continuously as transactions occur.

Cost of Sale

Costs directly related to the production of the goods sold by a company.

Merchandise Inventory

Goods that a retailer, wholesaler, or distributor holds for the purpose of selling to customers in the normal course of business.

Perpetual Inventory System

A method of accounting for inventory that records real-time transactions of goods as they come in and out of stock, thus maintaining a continuously updated inventory balance.