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Types of Control (Scenario)
Sam has not been receiving the information that he needs from his current control system. By the time Sam receives his reports, the activity has been completed and mistakes have already been made. Direct supervision is used extensively on the production floor now, so some activities are corrected before they become costly mistakes. But Sam would like to do better. Ideally, he would like to fix mistakes before they happen and anticipate more of the problems before they occur.
-Sams reports are an example of __________ control.
Prefers
Indicates a choice or inclination for one option over others based on certain criteria or personal judgment.
Transitivity
In decision theory and economics, the concept that if option A is preferred to B, and B is preferred to C, then A should be preferred to C.
Kenneth Arrow
An influential economist known for his groundbreaking theories in risk, welfare economics, and his contribution to the general equilibrium theory.
Condorcet Paradox
The Condorcet Paradox describes a situation in voting theory where collective preferences can be cyclical, even if individual preferences are not, leading to a lack of clear majority preference.
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