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A change in regulations increases the size of the airplanes that can fly into a local regional airport.The increase in average plane size increases noise pollution considerably.If compensation is to be paid to those harmed by this externality,the most efficient form of compensation would be _____.
Henry Fayol
A French engineer and management theorist best known for developing a general theory of business administration and identifying 14 principles of management.
Specialization of Labor
The division of work into specific tasks, with each worker focusing on a particular task to increase efficiency and expertise.
Principles of Management
These are fundamental guidelines that outline effective management practices to run organizations efficiently and achieve organizational goals.
Functional Approach
A methodology in business or research that focuses on the specific roles and activities within a system or organization.
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