Time Study, Sampling, and Business Management Concepts

Time Study in Work Measurement

The study of time as one of the major work measurement techniques was formalized by Taylor.

Technical Insolvency

A firm is in a state of technical insolvency when the economic profit generated by its assets is not sufficient to meet the interest on its debts.

Quota Sampling

Quota sampling falls under the category of non-probability sampling.

Commercial Experimentation Technique

Analysis of Variance

The technique used in most commercial experimentation is Analysis of Variance.

Strategic Behavior and Social Groups

The set of shared values of a social group determines your preference for a particular type of strategic behavior.

Investment Risk

If a certain level of risk exists between two alternative investments, preference shall be given to those whose net return is highest risk.

New Product Development Decisions

Management Level: High

Decisions concerning elaboration, taking new product management level: High.

Production Volume

The amount of product that was developed in a period is called Production Volume.

Production Dependence

Production depends on the reason that causes it; orders for manufacture or stored items.

Equity Ratio

If you want the fund to have positive moves, the equity ratio will be positive in current assets.

Delegation of Authority

Which of the following items would not be part of the delegation of authority?:

• Assign task to a subordinate
• Confer freedom and authority to a subordinate
• Control of a subordinate

Standard Time

To add a result of additional time to time to be called normalized time: Standard.

Theory of Transaction Costs

A theory arising from the dilemma between the market via resource allocation and made by the company is the Theory of Transaction Costs.

Technological Determinism

A labor organization based on a technical-only perspective, ignoring social constraints, is called Technological Determinism.

Test Concept

What is it called to survey several groups of persons to which previously there were still no reports of product development?: The test concept.

Vertical Integration

Which of the following is not an advantage of vertical integration?: Greatly reduced risk.

Sales Presentation Approach

What approach has as its principal drawback that customers do not always respond as expected, which can mislead the seller and prevent concluding the presentation?: The response to stimulus.

Investment Performance in Growth Phase

On business to be found in growth phase, which are different possibilities of investment performance which is superior to the one that can get in the financial market, where to find the cost of capital?: In other alternative assets.

Product and Distribution Variables

In general, the product and distribution variables are Structural.

Taylor's Major Errors

Which of the following was not one of Taylor's major errors?:

• Excessive specialization and its excessive rigidity
• Radical separation between management and labor

Inventory System

Inventory: Low-value goods are covered by the P system.