The management of business procedures to achieve the best level of productivity within an organisation is known as operations management (OM). In order to increase an organization's profit, it is concerned with transforming resources like labour and materials into products and services as effectively as feasible.
Operations management is a branch of management that focuses on planning, organising, and redesigning the production process for goods or services as well as business operations.
Managing an organization's operations and processes is known as operations management. Supply chain management, product design, forecasting, quality control, and delivery management are a few of the tasks carried out by an operations manager.
Planning, arranging, and overseeing in the contexts of production, manufacturing, or the provision of services are the main concerns of operations management.
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The standard of living for a nation's people depends mainly on:
The standard of living for a nation's people depends mainly on the quality of the natural environment.
The standard of living is the level of income, comfort, and services available that are generally social and location-related rather than individual. The standard of living is appropriate because it is believed to contribute to a person's quality of life.
Standard of living generally refers to a particular class of wealth, comfort, material goods, needs, or more objective traits in a particular discipline, but quality of life is more subjective and intangible. Personal freedom or quality of the environment.
Standard of living refers to the level of wealth, comfort, supplies, and necessities available in a particular socio-economic class or geographic area.
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What is the best definition of the circular flow of income? the wages that workers earn from doing their jobs the exchange of money between firms and households the money that consumers spend on goods and services the influence of the government in a mixed-market economy
The best definition of the circular flow of income is the exchange of money between firms and households.
The Circular Flow Model: What Is It?
The circular flow model shows the flow of money in society. Money is sent back and forth between producers and employees in the form of wages and payments for goods. An economy is essentially an unending circle of money flow.
The model is constructed in this manner, but actual cash flows are more intricate. To more accurately represent the complex modern economies, economists have included more variables. These elements make up a country's national income or gross domestic product (GDP). The cyclic flow of income model is another name for the model because of this.
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Esmeralda promises to pay fiorello $400 because ""he does not have as much money as other people. "" esmeralda’s promise is not enforceable because:.
Esmeralda promises to pay Fiorello $400 because ""he does not have as much money as other people. "" Esmeralda's promise is not enforceable because: Fiorello has not given consideration in return.
INTERPRETATION-
Consideration is mutual i.e. both parties get something in the return for the performance of the contract. However, Esmeralda has not given consideration in exchange.
Esmeralda was given the chance to audition for the Performing Arts High School which she succeeded in. She then moved to New York and attended School, studying drama and dance.
Esmeralda Santiago wrote her autobiography "When I Was Puerto Rican" which narrates her and her family's life moving from Puerto Rico to America. The book also follows the Puerto Rican girl through the many obstacles that she had to endure and overcome to change her life.
Therefore, we can conclude that the correct option is A.
Your question is incomplete, but most probably your full question was:
Esmeralda promises to pay Fiorello $400 because “he does not have as much money as other people.” Esmeralda’s promise is not enforceable because
A. Fiorello has not given consideration in return.
B. Esmeralda could have paid more.
C. the redistribution of wealth on a one-to-one basis is not a valid social goal.
D. society does not want gifts cheapened by making them legally enforceable.
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Household production, such as baking bread at home, is not included in gdp because it:.
Household production, such as baking bread at home, is not included in GDP because it is not a market transaction.
What transactions are included in GDP?The total private and public consumption, government expenditures, investments, increases in private inventories, paid-in building expenses, and the foreign balance of trade are all included in the computation of a nation's GDP. (Imports are deducted from the amount while exports are added.)
Moreover, these are intermediate goods that are not included in GDP.
Why are intermediate not included in GDP?When calculating the gross domestic product, economists do not include intermediary products (GDP). The market worth of all finished products and services generated in the economy is gauged by GDP. These items would be tallied twice, thus they are not included in the computation.
Therefore, baking bread at home is not included in GDP because it is not a market transaction.
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If the real output of a DVC increases from $200 billion to $260 billion and its population increases from 100 to 110 million, its real per capita output will have
If the real output of a DVC increases from $200 billion to $260 billion and its population increases from 100 to 110 million, its real per capita output will have increased by about $167. This is further explained below.
What is real per capita output?Generally, The real gross domestic product per capita is a figure that is calculated by dividing the entire economic output of a nation by the total population of that country after adjusting for inflation.
In conclusion, If the actual production of a DVC goes from $200 billion to $260 billion and at the same time its population goes from 100 million to 110 million, then the real output per capita will have climbed by around $167.
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When a customer asks me to do something that is someone else’s job, I am MOST likely to:________
a) Find the appropriate employee and introduce them to the customer
b) Escalate the customer to my manager so that they receive all the assistance they need
c) Give them the contact information for appropriate person
d) Do what I can for the customer, even if it means doing things that are not my job
e) Politely tell the customer that I am not allowed to do what they are asking me
When a customer asks for something other than my duty I am most likely to : A) Find the appropriate employee and introduce them to customer.
What is a Customer?A customer is the person who purchase the goods and or services from the company, through this contract the company earns revenue and profits.
A customer is also known as the King because it is the one who is the key player for the business, a slight negative publicity or impression can make the company go out of business.
Therefore the customer should be responded with the correct response to their queries and for this it is recommended that the relevant personnel attends the customer and resolves the query on time, as time is also a great factor here, the customer query needs to be resolved on time that is effective and efficient.
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Is evrything the consumer must surrender in order to recieve the benefits of theowningusing a product
Consumer cost is everything the consumer must surrender in order to receive the benefits of owning/using the product.
Customer cost includes the price of a product as well as the expenditures associated with its purchase, use, and aftercare. Purchase expenses are made up of the expenditures associated with product research, information collecting, and information acquisition.
The price of a product is only a small portion of its overall cost to the consumer. The additional costs of delivery, use, and ultimately disposal of the goods fall on the consumer. The overall consumer cost is the sum of these expenses (TCC).
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In the context of antitrust sanctions, liability for triple-damages suits is based on __________law and is said to be joint and several. Multiple Choice tort antitrust tax criminal corporate
In the context of antitrust sanctions, liability for triple-damages suits is based on tort law and is said to be joint and several.
Practices like setting pricing, manipulating contract bids, and dividing up customers among companies that ought to be competing for them are all considered violations of the Sherman Antitrust Act. These infractions are crimes. As a result, they risk receiving severe penalties or lengthy prison terms.Market allocation, bid rigging, and price fixing are some of the antitrust offenses that are seen as "per se" unjustified trade constraints. Protect competition -Outlaws all contracts, combinations, and conspiracies that unreasonably restrain interstate and foreign trade.What is an antitrust law ?Antitrust law laws designed to encourage robust, fair competition in the market. -unlawful monopolies, pricing strategies, networks for distributing products, and mergers. -describes prohibited anticompetitive practices.
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In the Circular Flow example, some Households have Labor (and possibly other) resources which are ______________ and, therefore, they receive fewer Goods and Services in a Market based economy.
In the Circular Flow example, some Households have Labor (and possibly other) resources that are under-employed and, therefore, receive fewer Goods and Services in a Market-based economy.
A circular flow model is a diagram that is used to represent monetary transactions in an economy. It shows how money, goods, and resources move through a market economy.
The circular flow is the exchange of money between firms and households.
The main factors in the circular flow of economic activity are households (or individuals), firms, and the government.
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On january 1, year 1, raven limo service, inc. Paid $64,000 cash to purchase a limousine. The limo was expected to have a six year useful life and a $10,000 salvage value. On january 1, year 5 the limo was sold for $30,000 cash. Assuming raven uses straight-line depreciation, the company would recognize a.
The company would recognize a $2,000 gain.
Solution:Depreciation expense per year = (Cost of the asset - Salvage value) ÷ Useful life
Depreciation expense per year = ($64,000 Cost - $10,000 Salvage) ÷ 6 Year life = $9,000
Accumulated depreciation on January 1, Year 5 = $9,000 per year × 4 years = $36,000
Book value = $64,000 Cost - $36,000 Accumulated depreciation = $28,000
Gain on sale = $30,000 Sales price - $28,000 Book value = $2,000)
What is Depreciation expense?Depreciation is an accounting technique that distributes an asset's cost over the course of its useful life.The cost of an asset that has been depreciated for a particular period, or period, is known as depreciation expense, and it indicates how much of the asset's worth was used up in that year.The total amount of depreciation expense that has been assigned for an asset since it was first used is known as accumulated depreciation.Depreciation expense is recorded as a non-cash expense on the income statement, which lowers the company's net profits.The balance sheet's counter asset account records accumulated depreciation, which lowers the reported gross value of fixed assets.Know more about Depreciation expense https://brainly.com/question/15024945
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The effect of the declaration of a cash dividend on a company's financial statements is to:_______
The effect of the declaration of a cash dividend on a company's financial statements is to decrease both stockholders' equity and total assets.
What are cash dividends?Dividends are cash payments made to the stockholders of a public company. Stockholders are individuals who purchase shares in a public company.
Dividends are paid with cash, thus, the assets of a company would decline. Since assets is positively related to stockholders equity, stock holder's equity would also decline.
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If a corporation pays the premium on a group life policy for its employees, the corporation is required to report how much additional taxable income for each employee?
If a corporation pays the premium on a group life policy for its employees, additional taxable income for each employee is Nothing
This is further explained below.
What is additional taxable income?Generally, Along with wages, salaries, commissions, fees, and gratuities, this also covers other types of pay, such as stock options and fringe benefits. Your employer must provide you with a Form W-2, Wage and Tax Statement, detailing the compensation you received for your services.
In conclusion, If an employer contributes to the cost of a group life insurance policy for its workers, the employees do not have to report any extra income for tax purposes.
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A leader who initiates change in a company by enhancing the culture of the work environment is using?
A leader who initiates change in a company by enhancing the culture of the work environment is using transformational leadership.
Leadership as both a field of study and practical skills includes the ability of an individual, group, or organization to "lead, influence, or direct" another individual, team, or organization as a whole. The word "leadership" is a common controversial term.
A leader is someone who is responsible for persuading others to follow you. Great leaders instill confidence in others and put them into action. The leader is the head or girl who runs the show.
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What purpose does the addition of bromine serve in the procedure describe for the isomerization of dimethyl maleate to dimethyl fumarate? provide a mechanistic explanation.
The addition of Bromine isomerises dimethyl maleate into dimethyl femarate using free radical addition mechanism.
Mechanism:-
Dimethyl maleate to dimethyl fumarate using bromine,Dimethyl maleate is extra polar than dimethyl fumarate because it has a dipole moment. In this example, every other solubility factor takes priority, crystal lattice forces.Accepts the free electron and changes its planner shape.
Dimethyl fumarate is used to treat the relapsing kinds of a couple of sclerosis, which include clinically isolated syndrome, relapsing-remitting disease, and energetic secondary revolutionary disorder. This medicinal drug will not therapy, but it can gradual a few disabling outcomes and decrease the variety of relapses of the disorder.
Natural sources of fumaric acid consist of bolete mushrooms, lichen, and Iceland moss. it's also found in papayas, pears and plums, however in very constrained quantities. It changed into first isolated from the plant Fumaria officinalis, that's wherein it derives its name.
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Amelia writes a check to barry on her account at community savings bank. The bank dishonors the check even though amelia has sufficient funds in her account. The bank is?
The bank is liable to amelia to answer what went wrong and the cheque got dishonoured.
Dishonour of cheque means a situation where the payer draws a cheque and the payee bank refuse to accept the cheque .
A cheque can get dishonoured in the following cases:
1) Mistakes or correction while presenting the cheque.
2) Name of the account holders doesn't match
3) Its upon the bank services that server faces issue
4) Unavailability of sufficient funds.
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When firms compete by offering unique product features rather than competing on price, ______ occurs.
When firms compete by offering unique product features rather than competing on price, non-price competition occurs; it is when businesses employ tactics to boost sales and market shares without lowering prices.
What is non-price competition?
In non-price competition, a company "seeks to distinguish its product or service from competing items on the basis of features like design and workmanship," according to a marketing strategy. Because it exists between two or more producers who sell goods and services at the same prices but seek to expand their respective market shares by non-price factors like marketing strategies and higher quality, it frequently happens in imperfectly competitive markets.
Types of Non-Price Competition:
Marketing involves a range of approaches (based round the 4Ps), including product differentiation, advertising, promotion and distribution
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A company sells products that cost them $5 each to produce. They recently spent $2500 on advertising, and sold 300 of them at a $20 price point. What was their ROI
Based on the amount spent on producing the products, and the expenses to advertise, the Return on Investment is 50%.
What is the return on investment?This refers to a percentage that shows how much a company gained from selling a product that they made or acquired for sale.
It is calculated as:
= Net income / Cost
Revenue here is:
= 300 x 20
= $6,000
The cost is:
= (5 x 300) + 2,500
= 1,500 + 2,500
= $4,000
Net income:
= 6,000 - 4,000
=$2,000
Return on investment is:
= 2,000 / 4,000
= 50%
In conclusion, the return on investment can be found to be 50%.
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According to peter drucker, what are managers who do the right things addressing? both efficiency and effectiveness effectiveness customer satisfaction only efficiency
Effectiveness. Effectiveness is doing the right things, not just doing things efficiently. While increasing efficiency means doing things faster, with fewer resources, and in fewer steps, increasing effectiveness means aligning improvements to how you work with high-level corporate goals.
Instead of efficiency for the sake of efficiency, increasing effectiveness necessitates a more focused and strategic approach. Both are critical components of a leader's journey to success and avoid becoming bogged down. It is critical for the leaders who want to invest in right things rather than relying on magic to achieve right balance of effectiveness and efficiency in their work.
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The process of sourcing goods and materials, negotiating with suppliers, paying for goods, and making delivery arrangements is called?
The process of sourcing goods and materials, negotiating with suppliers, paying for goods, and making delivery arrangements is called procurement.
Procurement of goods broadly refers to the procurement of physical items, but it can also include items such as software subscriptions. Effective sourcing of goods usually relies on proper supply chain management practices. You can include both direct and indirect procurement.
Procurement is a term used to describe the procurement process for goods and services. In building construction, material procurement is the process of selecting, ordering, billing, paying, delivering, and delivering the materials needed to build a building to the construction site.
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Mark, a real estate broker representing a seller, insists that his client use his real estate attorney, otherwise, he won't sell the house. what has mark introduced...?
Mark, a real estate broker representing a seller, insists that his client use his real estate attorney, otherwise, he won't sell the house. what has mark introduced? Tie-in Arrangement.
What is the Tie-in Arrangement?This can be defined to be the type of arrangement that has the the condition of the sale of only one product by the person that is selling.
This type of arrangement is made up of the agreement that involves purchasing a different product from the person that is selling. The product here is what is referred to as the tie product.
A very good example of this type of arrangement is one where a patented drug is tied to a dispenser that is patented. This would therefore extend the monopolistic rights to its sale.
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On a balance sheet, the value of the assets must be ______ the amount of the claims against those assets.
On a balance sheet, the value of the assets must be equal to the amount of the claims against those assets.
What Is a Balance Sheet?The balance sheet refers to a financial statement that reports a company's assets, liabilities, and shareholder equity at a specific point in time. Balance sheets provide the basis for computing rates of return for investors and evaluating a company's capital structure.
What Is an Asset?An asset is a resource with economic value that an individual, corporation, or country owns or controls with the expectation that it will provide a future benefit.
Assets are reported on a company's balance sheet. They're classified as current, fixed, financial, and intangible. They are bought or created to increase a firm's value or benefit the firm's operations.
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Labor content is increased by 10% while takt time remains the same. What is the percentage change in target manpower
The percentage change in target manpower is Increases by 10%.
What is Target Manpower ?The target manpower is the number of employees (or other resources) needed to operate the process at takt time if the work could be divided evenly between them .
The target manpower is the approximate number of resources you need to employ in order to achieve the takt time. It is calculated as follows:
Target Manpower = Labor Content/Takt Time,
Hence an increase in the labor content will simultaneously depict an increase in the target Manpower of the same as they are directly proportional to each other.
Therefore, we can conclude that the Correct Option is A . The percentage change in target manpower is Increases by 10%.
Your question is incomplete, but most probably your full question was:
Labor content is increased by 10% while takt time remains the same. What is the percentage change in target manpower?
A. increases by 10%
B. Decreases by 10%
C. No change
D. Cannot be determined
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Prepare journal entries to record the following production activities. Incurred $42,000 of direct labor in the Roasting department and $33,000 of direct labor in the Blending department. Credit Factory Wages Payable. Incurred $20,000 of indirect labor in production. Credit Factory Wages Payable.
Credit Factory Wages Payable is $95000.
What are Wages Payable?Wages payable refers to an organization's liability for wages earned but not yet paid to employees. When wages are paid to employees, the amount in this account is normally wiped early in the following reporting month. Wages payable is a current liability account, whereas wages expense is an expense account. A current liability is one that must be paid within one year. Wage Payment Example
Jane received $160 for the last three days of the year (December 29-31). This sum (together with whatever salary she receives from January 1-4) will be included in her paycheck on January 9. Based on this information, the corporation has $560 in wages payable as of December 31 ($400 + $160).
(journal entries are in the attached image)
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Another name for a consumer’s willingness to pay is the___________.
a.hidden budget.
b.expense cap.
c.reservation price.
d.limiting cost.
Another name for a consumer’s willingness to pay is the reservation price (option C).
What is the reservation price?Reservation price is the highest amount of money that the consumer of a good would be willing to pay for a good or service. The reservation price is a function of the utility the consumer derives from the good. The higher the utility a consumer derives from the good, the higher the reservation price.
Once the price of a good is below the reservation price, the consumer would purchase the good. Once the reservation price is exceeded the consumer would not purchase the good. Reservation price varies with consumers.
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Why might a firm want to enter into an equity alliance instead of a short- or long-term contract?
A firm want to enter into an equity alliance instead of a short- or long-term contract due to ownership grant in the corporation one is investing.
Short term contracts are usually for period of 6 months or less and long term contracts are usually for a year or a specified period of two years whereas the equity alliance is more profitable as gaining the ownership of an organisation and making oneself eligible for it.
Some other profit of equity alliances are to facilitate transaction of investments with the firm. The investors are able to generate a good credit report and in case of contract they will not be able to use company's goodwill and while being in equity can easily get insider information forming an alliance.
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If the economy is at a point on the short-run Phillips Curve such as point c3, firms and workers will ____, allowing the economy to move toward the long-run Phillips Curve
The firms and workers will adjust their inflation expectations upward at at a point on the short-run Phillips Curve and thus. allowing the economy to move toward the long-run Phillips Curve.
What is the short-run Phillips Curve?As the Phillips curve is a graphic representation that depict the relationship between the rate of unemployment and rate of change of money wages, the short-run graph will show that in the short-term, there is a tradeoff between inflation and unemployment.
However, when the economy is a point on the short-run Phillips Curve, decision may be made by firms and workers to adjust their inflation expectations upward and this will allow the economy to move toward the long-run Phillips Curve.
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barga company's net sales for year 1 and year 2 are $730,000 and $1,095,000, respectively. its year-end balances of accounts receivable follow: year 1, $65,000; and year 2, $123,000. a. complete the below table to calculate the days' sales uncollected at the end of each year.
Year 1 = 35.23 days
Year 2 = 44.64 days
What are net sales?Net sales are calculated by deducting appropriate sales returns, allowances, and discounts from gross revenue. Net sales costs have an impact on a company's gross profit and gross profit margin, but net sales exclude the cost of goods sold, which is typically a key driver of gross profit margins.Net sales are operating revenues obtained by a corporation for selling its products or performing its services in bookkeeping, accounting, and financial accounting. They are recorded directly on the income statement as Sales or Net sales and are also known as revenue.So, Days' Sales Uncollected = Accounts receivable / Net Sales * Days
Year 1 = $64,000 / $663,000 * 365 days = 35.23 days
Year 2 = $91,000 / $744,000 * 365 days = 44.64 days
Therefore,
Year 1 = 35.23 days
Year 2 = 44.64 days
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The question you are looking for is here:
Barga Co.'s net sales for Year 1 and Year 2 are $663,000 and $744,000, respectively. Its year-end balances of accounts receivable follow Year 1, $64,000; and Year 2, $91,000. Complete the below table to calculate the days' sales uncollected at the end of each year.
Days' Sales Uncollected
Choose Denominator: / Choose Numerator: * Days = Days' Sales Uncollected
Year 1: days
Year 2: days
_____ is a series of activities designed to align and improve individual performance to drive organizational results.
When a series of activities are designed to align and improve the individual performance of a company so as to drive organizational results, this is performance management.
What is performance management?Performance management refers to the various actions that a company uses to ensure that its employees are productive enough to meet the results demanded by the organization.
These actions and activities can range from testing employees on the key productivity matrices of their work, to installing new lights and replacing old ones if it means improving performance.
In other words, performance management is a very important part of a business as it drives production which then leads to more goods and services being available for sale, which leads to more revenue, and higher profit.
In conclusion, performance management involves all activities that were made to ensure that employees can drive organizational results.
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If a company becomes aware of a group of hostile shareholders, what may its next course of action be?
Priority dividend right to make up shareholders for the lack of voting rights. Paid-in capital above par course of action be.
The board must agree on the amount of cash to be paid to shareholders individually and collectively. The board must also set a record date for determining which shareholders are eligible to receive dividends, set payment dates, and notify shareholders.
The right to receive a certain percentage of net income each year. Right to distribute liquidation assets.
Instead, the Board of Directors approves and declares a stock dividend, with each shareholder receiving additional shares based on their current ownership. For example, if a 5% stock dividend is declared, each shareholder will receive 1 additional share for every 20 shares they hold.
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James' first year as parts manager for a local dealership was pretty rocky. To ensure that his subordinates would follow through on established goals, he warned them about losing their jobs. James' managerial attitude reflects assumptions underlying
James' first year as parts manager for a local dealership was pretty rocky. To ensure that his subordinates would follow through on established goals, he warned them about losing their jobs. James' managerial attitude reflects assumptions underlying Theory X.
This is further explained below.
What is Theory X?Generally, These managers tend to see their employees as intrinsically uninspired and disinterested in their jobs, which gives them a negative outlook on the world. A "carrot and stick" technique is regularly used to encourage employees in firms that are run this way.
In conclusion, The first year on the job as parts manager at a small dealership was a challenging one for James. The threat of having their employment terminated was used as a means of ensuring that his subordinates would meet the objectives that had been set. The management mindset of James is reflective of the principles that underpin Theory X.
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