The Approach Using Management Tools and Techniques in a Situationally

question 16

Multiple Choice

The approach using management tools and techniques in a situationally appropriate manner is referred to as

• A)one-best way approach
• B)contingency approach
• C)total quality management approach
• D)Deming approach
• E)E-business approach

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Definitions:

Discount Rate

The rate of interest that central banks impose on the credits they extend to commercial banks or financial entities.

Planned Investment

The amount of spending by businesses on capital goods, such as new equipment and buildings, that is intended for future use and production.

Monetary Policy

The process by which the monetary authority of a country controls the supply of money, often targeting an inflation rate or interest rate to ensure stability and economic growth.

Interest Rates

Interest rates are the cost of borrowing money or the reward for saving, determined by the supply and demand for credit, inflation, and central bank policies. This rate impacts consumer spending, investment, and economic growth.