How is the function of management relevant to the importance of organizational success? I need this answer with scholar reference more than 250 words
Answers
The function of management plays a crucial role in the success of an organization. Effective management practices are essential for achieving organizational goals, optimizing resources, and driving growth and innovation. This section will discuss the relevance of the function of management to the importance of organizational success, supported by scholarly references.
Firstly, the function of management provides a framework for planning and setting objectives. Planning involves defining organizational goals, determining strategies, and formulating action plans to achieve those goals. Proper planning ensures that resources are allocated efficiently, risks are managed effectively, and activities are aligned with the overall mission and vision of the organization (Daft, 2018). By establishing clear objectives and action plans, management sets the direction for the organization, ensuring that all efforts are focused on achieving desired outcomes.
Secondly, the function of management is critical for organizing resources and optimizing their utilization. Organizing involves designing the organizational structure, assigning responsibilities, and coordinating activities to achieve synergy and collaboration (Robbins et al., 2019). Through effective organizational design and structuring, management ensures that resources, including human capital, financial assets, and physical infrastructure, are allocated and utilized in the most efficient and effective manner. This leads to improved productivity, cost savings, and better utilization of the organization's capabilities and competencies.
Thirdly, the function of management encompasses leading and motivating employees. Effective leadership inspires and guides employees, fosters a positive work culture, and promotes employee engagement and commitment (Northouse, 2018). Motivated and engaged employees are more likely to be productive, innovative, and customer-focused, leading to improved performance and organizational success. Leadership also plays a critical role in managing change and facilitating organizational adaptation in dynamic and competitive environments.
Additionally, the function of management includes controlling and evaluating performance. Control mechanisms help monitor progress, assess performance against set standards, identify deviations, and take corrective actions as needed (Daft, 2018). By implementing effective control systems, management ensures that organizational activities are on track, resources are utilized efficiently, and performance is aligned with established objectives. Regular performance evaluation and feedback enable continuous improvement and learning, driving organizational success and competitiveness.
In conclusion, the function of management is highly relevant to the importance of organizational success. Effective management practices enable organizations to plan strategically, optimize resource allocation, motivate employees, and control and evaluate performance. By employing the function of management, organizations can enhance their operational efficiency, drive innovation, and achieve their goals. The scholarly references provided support the significance of the function of management in contributing to organizational success.
References:
Daft, R. L. (2018). Management. Cengage Learning.
Northouse, P. G. (2018). Leadership: Theory and practice. SAGE Publications.
Robbins, S. P., Coulter, M., DeCenzo, D. A., & Woods, M. (2019). Management. Pearson.
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Related Questions
You work in a company that has snacks in the kitchen. You realize that a coworker never brings their own food or eats out, but instead eats 5-6 snacks each day. You’re aware that other employees help themselves to snacks, but limit themselves to 1 snack per day.
Answers
In case you worry about your colleague's frequent munching tendencies, try initiating a cordial and objective dialogue without any hint of criticism. Voice your concern regarding their welfare and enquire on how to assist them in choosing healthier snacks.
How should you treat this situation?Additionally, it may be plausible that this coworker has an underlying medical condition or dietary limitation prompting he requires more snack breaks than what is perceived as normal practice. In such cases, supportive understanding will go a long way in the person's psychology boosting.
Furthermore, for workers who only snack once each day, disparities impact different dietary necessities and lifestyle preferences aside from health aspects. Hence, gauging an individual in line with someone else proves futile due to numerous factors at play.
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Using the chain ratio method, estimate the market sales potential for heart catheterization products to meet the needs of the infant and child segment. Assume that of the 45,000 children with heart defects each year, 70 percent will benefit from these types of products and that only 50 percent of their families have the financlal resources to obtain such treatment. Also assume the average price for a device is $3,000 and children may only go through a single procedure. The number of buyers in the market can be estimated as (Round to the nearest whole number.)
Answers
Based on the given assumptions and using the chain ratio method, the estimated market sales potential for heart catheterization products in the infant and child segment would be approximately $47,250,000.
To estimate the market sales potential for heart catheterization products in the infant and child segment using the chain ratio method, we'll follow the given assumptions step by step.
Total number of children with heart defects per year: 45,000.
Percentage of children who will benefit from heart catheterization products: 70%.
The potential beneficiaries would be 45,000 * 0.70 = 31,500 children.
Percentage of families with financial resources to obtain treatment: 50%.
The potential buyers would be 31,500 * 0.50 = 15,750 families.
Now, we need to estimate the number of heart catheterization products required by these families:
Assuming each child goes through a single procedure, the number of devices needed would be the same as the number of families, which is 15,750.
Finally, we can calculate the market sales potential:
Average price per device: $3,000.
Total sales potential would be 15,750 * $3,000 = $47,250,000.
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When dealing with a credit card, the amount of money you must pay each month is known as what?
Finance charge
Minimum payment
Principal
Annual percentage rate (APR)
Answers
Option B The minimum payment.
According to the video, which tasks are Special Education Teachers likely to perform? Check all that apply
teaching basic subject material
driving students to and from school
working with educational technology
working with and meeting with parents
preparing lesson plans
volunteering in public libraries
interviewing other teachers to hire
Answers
Answer:
A,C,D,E
Explanation:
All right
Answer:
A,C,D,E
Explanation:
How much total interest will Molly pay using this plan?
Answers
Since no interest rate is mentioned, Molly will pay 0% interest. Loans are sums of money given by lenders to borrowers in exchange for interest payments and principal repayments at maturity.
What is the loan's duration?
Since the loan's term is relatively lengthy, you will have plenty of time to repay it. For individuals who are concerned about completing their payments on time, this is good news. You must still make your payments on time, it's crucial to keep this in mind. If not, you risk incurring late fees or having your interest rate rise.
The total amount borrowed, the interest rate and the length of the payback period are just a few of the variables that affect the monthly payment under this plan. Generally speaking, the monthly payment will increase as the total amount borrowed increases.
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Correct question:
Molly has a $2500 down payment saved for this purchase. The dealer will take the $500 Cash Allowance straight off her total. How much loan does Molly need?
How much total interest will Molly pay using this plan?
if some countries join together and agree to make cuts that are costly, then others who do not can enjoy the environmental benefits of such action without paying. this is an example of
Answers
If some countries join together and agree to make cuts that are costly, then others who do not can enjoy the environmental benefits of such action without paying. This is an example of the free-rider problem.
What Is free riders problem?
The free rider problem is when people utilise or exploit a shared resource without contributing their fair part of the cost or without contributing anything at all. No matter how big or tiny a society is, the free rider issue might arise.
Anyone who wants others to pay for a public good but intends to utilise it themselves is considered a free rider; if many individuals engage in this behaviour, the public good may never be delivered. Because free riders try to use the public good without paying for it, markets frequently struggle to produce them.
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Which social network has more than 700 million registered members and because of that popularity, it has postings for more than 10 million jobs and data on more than 9 million companies
Answers
The social network of LinkedIn has more than 700 million registered members and has postings for more than 10 million jobs
The social network of LinkedIn is a platform that help people keep in touch other, facilitates sharing of ideas and building of career.
The social platform is the most formal platform use to promote one's official business or career.
The social platform allows peoples to showcase their skills, talents, experiences etc.
In conclusion, the social network of LinkedIn has more than 700 million registered members and has postings for more than 10 million jobs.
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Drag the labels to the correct locations on the table. Identify whether each scenario describes a drawback or an advantage of trade regulation. benefit of trade regulations drawback of trade regulations
Answers
Benefits of trade regulations: 1. Protecting domestic industries from unfair competition 2. Ensuring product safety and quality standards 3. Promoting national security
Trade regulations can have both advantages and disadvantages, depending on the specific context and perspective. Let's explore each scenario and identify whether it describes a benefit or drawback of trade regulations.
1. Protecting domestic industries from unfair competition:
This scenario describes a benefit of trade regulations. By implementing protective measures such as tariffs or quotas, trade regulations can shield domestic industries from unfair competition from foreign producers. This helps protect local businesses and promote their growth.
2. Ensuring product safety and quality standards:
This scenario also describes a benefit of trade regulations. Trade regulations can establish standards and regulations to ensure the safety and quality of products entering the market. This helps protect consumers from potentially harmful or substandard goods.
3. Promoting national security:
Promoting national security is another benefit of trade regulations. Trade regulations can be used to control the import and export of goods that are deemed sensitive to national security concerns. This helps safeguard a country's strategic interests and protect sensitive technologies.
4. Increasing prices for consumers:
This scenario represents a drawback of trade regulations. Trade regulations such as tariffs or import restrictions can raise the prices of imported goods, which can ultimately lead to higher prices for consumers. This can reduce consumer purchasing power and limit choices in the market.
5. Restricting free market competition:
This scenario also describes a drawback of trade regulations. Trade regulations that impose barriers to entry, limit market access, or favor domestic industries can hinder free market competition. This can prevent foreign businesses from competing on a level playing field and reduce market efficiency.
6. Potentially reducing global economic efficiency:
This scenario represents another drawback of trade regulations. Trade regulations that impose trade barriers or protectionist policies can disrupt global supply chains, reduce international trade, and hinder economic efficiency. This can limit the potential gains from specialization and trade.
In conclusion, trade regulations can have both benefits and drawbacks. While they can protect domestic industries, ensure product safety, and promote national security, they can also increase prices, restrict competition, and potentially reduce global economic efficiency. The specific impact of trade regulations depends on various factors, including the specific measures implemented and the overall economic context.
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1. Which is an example of fiscal policy?
A. preventing unions from going on strike
B. raising taxes in order to cover a budge deficit
C. Restricting the amount of money that banks can lend
D. increasing the level of minimum wage
2. Which is an example of fiscal policy?
A. decreasing the interest rates on loans charged to car companies
B. deploying troops to help citizens cope with natural disaster
C. going into debt to buy a large number of vehicles
D. limiting the number of foreign cars that can be sold in the United Stats
Answers
Answer:
A. decreasing the interest rates on loans charged to car companies
Question 6 of 10
Shawheen puts the cost of a weekend trip with friends on his credit card. He
has a great time but is shocked when he sees his credit card bill at the end of
the month. Which question should Shawheen have asked himself before and
during the trip?
Answers
Answer:A) can I afford this?
Explanation: got it right!
1. Define Trade, Import and Export
2. List items the U.S. imports and exports.
Answers
Answer:
food and clothing
Explanation:
import is to bring things from a different country for sale. export is to give things to a different country or place for sale. trade is to transfer or exchange something from a different country.
Carrie is creating a personal balance sheet. The heading includes the period of time that the balance sheet represents. Which could be the header of Carrie's balance sheet?
Answers
Answer:
The answer is Carrie's Balance Sheet (January 2013)
Explanation:
It is titled Carrie's Balance sheet and it shows the date in the title, it is the only one with a specific month compared to a longer period of time.
Answer:Carrie’s Balance Sheet (January 1, 2021)
Explanation: Got it correct on edge.
Which group is legally responsible for implementing
protection and controls that ensure your workplace
meets safety standards?
A. Employers
B. Unions
C. Employees
D. Government
Answers
Answer:
A
Explanation:
Answer:
It SHOULD be employers but i may be wrong... if i'm not CAN I PLES HAVE BRAINLYIEST
Explanation:
Also, if i'm right there is no need to thank me unless you want too
What are customer needs?
Answers
Answer:
A customer need is a need that motivates a customer to purchase a product or service.
NEED ASAP PLEASE
Select the correct text in the passage.
Hussein is writing a response rejecting a customer’s request for a product replacement. Select the text in the passage that shows the reasons he gives for the negative message.
Thank you for writing to us regarding your request for a replacement fan.
To guarantee customer satisfaction, we extend a warranty of 90 days on this product for all our customers. If returned within 90 days, we offer replacements free of charge.
Based on the receipt you attached to your email, we see that you purchased this product 120 days ago. We regret that we are unable to offer a replacement.
As an alternative, we can offer a 20 percent discount on any other product you wish to purchase from our store. We look forward to doing business with you again.
Answers
Answer:
Based on the receipt you attached to your email, we see that you purchased this product 120 days ago. We regret that we are unable to offer a replacement
Explanation:
Hope it helps!
Which two security regulations does the pci enforce with regard to electronic banking?
Choices
A. Banks must maintain a secure network
B. Banks must allow customers to chose the level of security they want
C. Banks must compensate customers for money lost due to stolen cards
D. Banks must have information security policy
Answers
Answer:
A. Banks must maintain a secure network D. Banks must have information security policyExplanation:
The Payment Card Industry Data Security Standards (PCI DSS) are there to make sure that companies dealing with payment cards for customers protect these customers by having a secure payment environment to prevent customer money being at risk.
First and foremost the companies should have a secure network for processing card payments and data which means no expense should be spared in maintaining this. Companies must also have an information security policy that employees must follow when dealing with customer information.
I need help with all those questions
Answers
Why does the government get involved with international trading?
Answers
Is used to characterize country's financial policies that inhibit free trade and shield domestic industries from import competition. Because they are the ones who will implement taxes, quotas, or international sanctions that may impede the trading of specific items from such a country to other countries, governments are engaged in international trade.
Most frequently, role in the government in international trade through import duties.
Governments also get involved with economic trade policies. To shield emerging markets from severe competition is one of the main motivations. The industries in emerging nations that might not survive in comparison with more developed nations must paying special attention to this issue. Most commonly, governments interfere in international trade via import tariffs.
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The length of time that it takes for a project to recover its initial cost from the net cash inflows that it generates is the (1) (2). (Enter only one word per blank.)
Answers
The length of time that it takes for a project to recover its initial cost from the net cash inflows that it generates is the (1) payback period.
The payback period represents the amount of time required for the cumulative net cash inflows of a project to equal or exceed the initial investment cost.
It is a commonly used financial metric to assess the time it takes to recoup the initial investment and gauge the project's risk or return. The shorter the payback period, the quicker the project is expected to generate positive cash flows to recover the initial cost.
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A supermarket building was purchased for $567,000. The down payment was 12%. The balance was financed at 7.97% for 25 years. Find the montly payment is
Answers
The monthly payment for the supermarket building is approximately $3,667.63. To find the monthly payment for a supermarket building, the following formula: Monthly payment = P[r(1+r)^n/((1+r)^n)-1)]
we will need to make use of the following formula: Monthly payment = P[r(1+r)^n/((1+r)^n)-1)]
where P = the principal,
r = the interest rate per month, and
n = the total number of months.
We will calculate the values of P, r, and n using the information provided in the problem statement:
Down payment = 12% of $567,000 = 0.12 × $567,000 = $68,040
Principal = $567,000 − $68,040 = $498,960
Interest rate per year = 7.97%
Number of years = 25Number of months = 25 × 12 = 300To convert the interest rate per year to the interest rate per month, we will divide by 12:
Interest rate per month = 7.97% ÷ 12 = 0.6642% Plugging in these values into the formula, we get:
Monthly payment = $498,960[0.006642(1+0.006642)^300/((1+0.006642)^300−1)]
Monthly payment = $3,667.63.
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2. Why is vision such an important component of leadership?
Please describe it in two paragraphs.
Answers
Vision is a crucial component of leadership as it provides a sense of direction, purpose, and inspiration to individuals and organizations. In the first paragraph, I will provide a summary of the answer.
Having a clear vision allows leaders to communicate their goals and aspirations, rallying their teams around a shared vision and motivating them to work towards a common objective.
A compelling vision paints a vivid picture of the desired future state, creating a sense of purpose and excitement among followers. It helps align efforts, encourages collaboration, and fosters a sense of unity within the team.
In the second paragraph, I will provide a more detailed explanation of why vision is important in leadership. A leader's vision serves as a guiding light, helping to shape decisions, strategies, and actions.
It provides a roadmap for navigating challenges and uncertainties, enabling leaders to make informed choices that align with the overall direction of the organization.
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if a monopolist is able to perfectly price discriminate, a. consumer surplus and deadweight losses are transformed into monopoly profits. b. total surplus is always decreased. c. the price effect dominates the output effect on monopoly revenue. d. consumer surplus is always increased.
Answers
When a monopolist is able to perfectly price discriminate, then a. consumer surplus and deadweight losses are transformed into monopoly profits.
What is price discrimination ?A selling tactic known as price discrimination involves charging clients various rates for the same good or service depending on what the vendor believes they can persuade the customer to accept.
When a merchant uses pure price discrimination, they charge each consumer the highest price they will agree to. In more common forms of price discrimination, the seller places customers in groups based on certain attributes and charges each group a different price.
When a monopolist is able to perfectly price discriminate, then consumer surplus and deadweight losses are transformed into monopoly profits.
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Which of the following best completes the table?
Table listing kinds of trade barriers with examples of each. Regulation, clothing made using child labor. Tariff, foreign steel. Embargo, diamonds from Zimabawe.
What is an example of local content requirement?
Customs duties paid on cloth made in India
Imported apples exceeding a percentage of domestic production
Inexpensive sugar grown in the Caribbean
Oil from a Middle Eastern country that is considered hostile
Answers
Answer:
1. The best that completes the table is:
Oil from a Middle Eastern country that is considered hostile.
2. An example of local content requirement is:
Imported apples exceeding a percentage of domestic production.
Explanation:
Many countries of the world impose free-trade restrictions. For example, tariffs raise the prices of imported goods relative to domestic goods (good produced at home), thereby making imports more expensive. Some governments provide subsidies to their domestic industries, thereby making the domestic goods cheaper than their foreign counterpart and discouraging free trade. Local content requirements are another means to restrict free trade. These requirements demand that part of the production process for imported goods be completed domestically.
Answer:
C. inexpensive sugar grown in the Caribbean
Explanation:
just took the quiz
In order for a liability to be classified as a current liability, it must be a debt that the company:.
Answers
Answer:
In order for a liability to be classified as a current liability, it must be a debt that the company expects to pay from existing current assets or through the creation of other current liabilities.
What are the characteristics of open and honest communication?
Answers
Answer:
being open and honest builds a sense of self-worth. It is about being moral, truthful to yourself and with others.
Explanation:
i’m pretty sure the answer is speaking truthful thoughts
Variable+costs+as+a+percentage+of+sales+for+lemon+inc.+are+70%,+current+sales+are+$500,000,+and+fixed+costs+are+$202,000.+how+much+will+operating+income+change+if+sales+increase+by+$40,400?
Answers
Operating income will change by $28,280 if sales increase by $40,400.
To calculate this, first, determine the contribution margin (100% - variable cost percentage) which is 30%. Multiply the contribution margin by the increase in sales ($40,400) to find the increase in the contribution margin, which is $12,120. Operating income will change in the rise in contribution margin minus the fixed costs ($12,120 - $202,000) which equals $28,280.Sure!
To calculate the change in operating income, we need to consider the variable costs and fixed costs of Lemon Inc. The given information states that variable costs are 70% of sales, and the current sales are $500,000. This means the variable costs are 70% of $500,000, which is $350,000. the fixed costs are mentioned as $202,000.
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It is not advisable for a worker who is satisfied with their job to improve their skills. Please select the best answer from the choices provided T F
Answers
Answer: False
Explanation: I just took the practice test
Answer:
False
Explanation:
What Are the 4 Cs of Credit?
Answers
Although standards may vary from lender to lender, all lenders will consider the four main factors of capacity, capital, collateral, and credit when deciding whether or not to provide a loan.
How would you define credit?Credit is the trust that permits one party to lend money or assets to that other party, with the understanding that the second party will not immediately repay the first party but will instead repay it or return the resources at a later time. The capacity to access products or services or borrow money with the idea that you'll pay for them later is known as credit.
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Because of strict U.S. labor laws protecting workers from exploitation, U.S. workers spend the fewer hours at work compared with almost every other developed nation in Europe and Asia.TrueFalse
Answers
False. The claim that Americans work fewer hours per week than people in practically every other industrialized country in Europe and Asia is untrue.
This is because tight labor regulations in the US protect workers from exploitation. U.S. labor law defines the responsibilities and rights of workers, labor organizations, and employers. The main purpose of labor law is to address the "inequality of bargaining power" that exists between workers and employers, particularly employers "organized in corporations or other forms of ownership unions."
Federal law created minimum social and economic rights during the 20th century, and state law mandated that minimums be exceeded to favour workers. Federal minimum wages must be paid, according to the Fair Labour Standards Act of 1938. It's currently $7.25, but it's even higher in 29 states and Washington, D.C. It is high. It also prohibits employees from working more than 40 hours per week, with overtime pay every 18 months.
There are few state laws mandating paid vacation or paid family leave, and no federal law. For large employers, the Family Medical Leave Act 1993 limits the right to 12 weeks of unpaid leave. The Employee Retirement Income Security Act of 1974 imposes standards of prudent control and good governance when businesses provide pensions, health insurance, or other benefits, but state-guaranteed social security are not automatically eligible for occupational pensions exceeding The Health and Safety at Work Act 1970 stipulates that workplaces must be safe for employees.
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Disadvantages of choosing a job that is extremely popular or in demand
Answers
The disadvantage of choosing a job that is very popular or a job that is in high demand is that after a while such a job may become saturated or it would become monotonous.
What is a high demand job?This is the term that is used to refer to a job that the people that wpould employ labor are constantly in need of. Such a job is one that would require the people that have the qualification to opt in and get the places and the roles that they are to fill.
The issues that may arise from such a job that is in high demand is that after a period, such a job may have a lot of persons that would want to fulfil the role.
The number of qualified persons may become more than the job that is available for the people to do in the long run.
Hence this is a disadvantage. Therefore I would conclude by saying that the disadvantage of choosing a highly popular job is that the number of persons that are willing to fulfil the role may exceed the job overtime.
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