What Did the Behavioural Management Approaches Contribute to Management Thinking

question 70

Essay

What did the behavioural management approaches contribute to management thinking?

Identify and assess the implications of bottleneck operations on production decisions.

Distinguish between relevant and irrelevant costs in various decision-making scenarios.

Understand and calculate contribution margin and contribution margin ratio.

Identify and compute the break-even point in units and dollars.

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Definitions:

Innovative Adaptation

The process of adjusting and inventing new methods or products to respond to changing environments or needs creatively.

Efficiency

The ability to achieve maximum productivity with minimum wasted effort or expense, often assessed in processes, systems, or organizations.

Top Executives Discretion

The authority and autonomy granted to high-level managers and executives to make decisions and take actions without needing approval from others.

Financial Reserves

Assets that are saved or conserved for future use, offering a buffer against financial challenges or emergencies.