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Chang Is the Owner-Manager of a 24-Hour Convenience Store

question 165

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Chang is the owner-manager of a 24-hour convenience store.When he first opened the business,he employed only four people,and it was easy to manage the store through informal means.The store experienced rapid growth and is now a six-unit chain.Chang is now trying to manage 30 employees.As part of the organizing process,he first determines the actions to be taken to achieve his organizational goals.What is the next step he should take?

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Definitions:

Extra Hour

An additional period of time, typically beyond what is normal or expected, often referring to work or activities.

Price of Leisure

The opportunity cost of leisure, represented by the wages foregone by choosing leisure time over work time.

Human Capital

The combined abilities, expertise, and non-physical assets of people that can generate economic benefits for the individuals, their employers, or the society.

Technological Progress

The improvement or development in technology which increases productivity and can lead to economic growth and improved living standards.

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