Management by Walking Around

question 81

Multiple Choice

Management by walking around

• A)is the label used to describe new executives when they get lost in unfamiliar buildings.
• B)minimizes the problem of filtering in the communication process.
• C)should be used only when executives need to explain corporate decisions.
• D)is an ineffective process for upward communication.
• E)All of these statements refer to management by walking around.

---

Definitions:

Materials Cost

The expense associated with the raw materials and supplies used in the production of goods or services.

Labor

The work performed by individuals that contributes to the production of goods or services in an economy, often categorized as manual or skilled tasks.

Monthly Expenses

Regular costs incurred every month, such as rent, utilities, and groceries, necessary for maintaining a standard of living.

Contribution Margin

The amount by which a product's sales revenue exceeds its variable costs, used to cover fixed costs and contribute to profits.