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Refer to the Scenario Below to Answer the Questions That

question 98

Multiple Choice

Refer to the Scenario below to answer the questions that follow.
Control Systems at Statco (Scenario)
Statco is a statistical software company based in British Columbia.This publicly traded firm has grown dramatically over its 25-year history,and it now has more than 12 000 employees worldwide.As it has grown,the company has adopted a hierarchical structure,which emphasizes organizational authority.Management relies heavily on administrative rules,regulations,and policies in order to meet its goals.However,the company has struggled to meet projected revenues for each of the past 10 quarters.While it is true that world financial markets have been very turbulent over the past three years,demand for the firm's products has typically been recession-proof in the past.Now,the board of directors is growing increasingly impatient with the management team.The firm's president,Susan Wong,is concerned that recent performance may indicate that management has lost control of the work force.She has hired Mark Adams,an expert in control system design,to evaluate Statco and offer suggestions to improve the firm's performance.
-Mark suggests that Statco's approach to control should place greater emphasis on external market mechanisms such as ________.

Definitions:

Ski Instructor

A professional trained to teach individuals how to ski, often employed at ski resorts.

Sixteen Years

This term does not specifically relate to a well-defined concept in economics or finance; it could be an age reference or duration but lacks context to be defined as a key term here.

Looking for Work

The activity of actively seeking employment by individuals who are unemployed or seeking better employment.

Employment Rate

The percentage of the labor force that is employed, often used as a measure of economic health and labor market strength.