Which of the Following Is an Example of the Management

question 36

Multiple Choice

Which of the following is an example of the management activity referred to as planning?

• A)developing a strategy to dispose of hazardous waste
• B)deciding to eliminate an unprofitable segment of an organization
• C)outsourcing the organization's payroll processing
• D)upgrading outdated equipment

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Definitions:

Linear Optimization

The process of finding the best solution or maximizing/minimizing a linear objective function subject to linear equality or inequality constraints.

Objective Function

A mathematical function used in various optimization problems that describes the problem's objective, usually maximization or minimization.

Maximize Total Profit

The process of adjusting inputs and decision variables to achieve the highest possible monetary gain in a business operation or economic model.

Labor Used

The amount of work effort, measured in time or productivity units, utilized in the production of goods or services.