The Omnipotent View of Management States That ________

question 43

Multiple Choice

The omnipotent view of management states that ________.

• A) managers' roles are peripheral and staff manage their own areas of the business
• B) managers are directly responsible for an organization's success or failure
• C) managers should allow employees to take part in decision making
• D) managers have little or no responsibility for an organization's success or failure

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Definitions:

Economic System

A particular set of institutional arrangements and a coordinating mechanism for solving the economizing problem; a method of organizing an economy, of which the market system and the command system are the two general types.

Institutional Arrangements

The formal and informal rules, organizations, and practices that structure economic, political, and social interactions in societies.

Coordinating Mechanism

A system or method used to align actions and activities among different parties to achieve a common goal or objective.

Economizing Problem

The choices necessitated because society’s economic wants for goods and services are unlimited but the resources available to satisfy these wants are limited (scarce).