A Small Business That Generates an Additional Profit of $25,000

question 66

True/False

A small business that generates an additional profit of $25,000 for the year as a result of an investment of $100,000 in information systems would have a return on investment of 4 to 1.

Comprehend the concept, benefits, and components of management by objectives (MBO).

Identify the benefits of planning for individuals and organizations.

Describe the steps in the planning process.

Recognize the types of plans used by managers and their applications.

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Definitions:

Reinforces

Strengthens behavior through the use of positive feedback or consequences, making the behavior more likely to occur in the future.

Fixed-Ratio Schedule

A reinforcement schedule in behavioral psychology where a response is reinforced only after a specified number of responses have been made.

Operant Conditioning

A method of learning that occurs through rewards and punishments for behavior, encouraging the repetition of desired behaviors.

Set Number

In mathematics, a concept referring to the count or quantity of distinct elements in a set.