Examlex

Solved

Which Kind of Skill Enables Managers to Take an Overall

question 96

Multiple Choice

Which kind of skill enables managers to take an overall view of how the parts of the organization interrelate and to think strategically?


Definitions:

Diminishing Returns

The principle that adding an additional factor of production results in smaller increases in output after a certain point.

Marginal Costs

The expense associated with the production of an extra unit of a product or service.

Marginal Returns

The additional output that is produced as a result of increasing one more unit of an input while holding other inputs constant.

Marginal Cost

The additional cost incurred from the production of one more unit of a product or service.

Related Questions