Figure 1.3 -Which of the Following Best Describes a Tradeoff

question 77

Multiple Choice

Figure 1.3

-Which of the following best describes a tradeoff?

• A)An office executive enrolling into a management course to develop her skills.
• B)An investor buying stocks of a start-up company.
• C)A businessman investing a portion of company's profit in research and development.
• D)A college student sacrificing a few hours of study time to work at the town cafeteria.
• E)A worker purchasing a new car with her bonus earnings.

---

Definitions:

Classical Management

A theory of management that emphasizes rationality, efficiency, and formal organizational structure over personal or informal practices.

Frank and Lillian Gilbreth

Pioneers in the field of industrial engineering, known for their work in time and motion studies and efficiency improvement.

Incentive Wage Plans

A payment system that rewards employees for meeting or exceeding certain performance benchmarks, aimed at motivating higher productivity.

Motion Studies

The systematic analysis of work processes and movements to increase efficiency, reduce waste, and improve productivity.