The Top Managers of Firecracker Explosives Walk About Through the Production

question 40

Multiple Choice

The top managers of Firecracker Explosives walk about through the production plant and talk informally with employees about issues and concerns that they may have.This is an example of:

• A) total quality management.
• B) structured approach to direct participation.
• C) impersonal communication.
• D) information overload.
• E) management by wandering around.

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Definitions:

Network Effects

The phenomenon whereby increased numbers of people or participants improve the value of a good or service.

Economies Of Scale

The benefit that larger operations have, which allows them to produce goods or services at a lower unit cost as production scales up.

Demand Schedule

A table that shows the quantity of a good or service that consumers wish to buy at various prices.

Total Revenue

The sum of money a company earns from selling products or offering services over a specific time frame.