Which of the Following Is Not an Advantage of Written

question 5

Multiple Choice

Which of the following is not an advantage of written and implied policies?

• A) Policies are a means for executive management to communicate its leadership and views.
• B) Policies provide a framework for consistent decision making and action.
• C) Policies are very easy to communicate throughout an organization.
• D) Policies help ensure that personnel act in a manner consistent with executive or functional management's expectations.
• E) High level policy statements provide guidance that to employees at all levels.

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Definitions:

Price Mechanism

The system by which the forces of supply and demand determine the prices of goods and services and allocate resources within an economy.

John Kenneth Galbraith

John Kenneth Galbraith was an influential Canadian-American economist and public intellectual who contributed significantly to the development of modern economic thought, particularly in the areas of consumer behavior, public policy, and economic history.

Mixed Economy

An economic system that combines private and public enterprise, incorporating elements of both capitalism and socialism.

Adam Smith

A Scottish economist, philosopher, and author who is considered the father of modern economics and is best known for his book "The Wealth of Nations."