Fayol's Principle of ________ Refers to How Extensively Employees Participate

question 24

Multiple Choice

Fayol's principle of ________ refers to how extensively employees participate in decision making in an organization.

• A)division of labor
• B)centralization
• C)order
• D)equity

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Definitions:

Unused Capacity

Resources or production potential that remains unutilized or is not being used to its full extent.

Opportunity Cost

The cost of the next best alternative that is foregone when a decision is made to choose one option over others.

Cash Outlay

The actual amount of money spent by a company to purchase goods or services, as opposed to accounting estimates or accruals.

Alternative Investments

Assets that do not fall into the conventional investment categories such as stocks, bonds, and cash, examples include real estate, commodities, and hedge funds.