The Main Virtue of the Payback Method Is Its

question 71

Multiple Choice

The main virtue of the payback method is its:

• A) simplicity.
• B) complexity.
• C) completeness.
• D) thoroughness.

Recognize the importance of ethical leadership and the influence of leaders' decisions on organizational culture and employee behavior.

Understand the key principles of contemporary leadership theories, including Hersey and Blanchard's situational leadership model, Vroom-Jago leader-participation theory, House's path-goal theory, and Fiedler's contingency theory.

Identify different leadership styles (e.g., delegating, participating, selling, and telling) and when to use them according to the readiness of the followers.

Recognize the factors influencing the choice of leadership style, such as the importance of decision acceptance, information availability, and situational clarity.

---

Definitions:

Economies of Scale

Cost advantages reaped by companies when production becomes efficient, typically resulting from increased production where the cost per unit of output drops as scale increases.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they are available to all and one person's use does not diminish another's.

Marginal Social Cost

The total cost to society of producing one additional unit of a good, including both the private costs and any external costs.

Efficient Level

An optimal point where resources are utilized in the most productive manner without waste, achieving the best outcome.