According to the Textbook, Which Concept Is Illustrated by Business

question 118

Multiple Choice

According to the textbook, which concept is illustrated by business markets increasing the buildup or reduction of inventories by increasing or decreasing plant capacity in response to changes in consumer demand?

• A) concentrated demand
• B) the acceleration principle
• C) higher levels of demand fluctuation
• D) multiple buying influences

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Definitions:

Scientific Management

Scientific Management is a management theory developed by Frederick W. Taylor that analyzes and synthesizes workflows with the main objective of improving economic efficiency, especially labor productivity.

Frederick Taylor

Known as the father of scientific management, Frederick Taylor introduced principles aiming to improve industrial efficiency and productivity through systematic study and analysis of work tasks.

Performance Incentive

A reward system designed to motivate employees to achieve specific performance targets or goals.

Fredrick Taylor

An American engineer and management consultant known for his scientific management theory, which sought to improve industrial efficiency through systematic study and analysis.