Capital Budgeting
BA 210-Management Principles
Chapters Discussion Questions
Chapter 1 Discussion Questions
Q. 7 Is efficiency or effectiveness more important to organizational performance? Can managers improve both simultaneously?
Efficiency is the use of minimal resources to produce a desired volume of output. Effectiveness is the measure by which the organizations achieve their goals. It is my belief that both are equally important. Efficiency and effectiveness are critical to success of the organization. A company is not well rounded if they are not efficiently using resources to provide service or a product to customer that they will value. I reflect back on a previous employer. When first employed there were 5 individuals applying payments, handling departmental deposits, filing, answering phone calls, answering questions, typing letter (and many other financial related duties). After some shifts in the workplace, it soon was reduced to two doing handling the workload. I soon felt as if I was the only one because the other individual arrived to work late, left work early, surfed the internet, and talked on the phone (and many other work and non-work related activities). Though I was able to handle the workload my ability to stay effective diminished. Multiple of errors reduced the quality of my work, ultimately resulting in talks with the boss. As wells as, my co-workers ability to be efficient with time while on the clock, lowered our ability to complete jobs in a timely manner.
Q. 8 A college professor told her students, “The purpose of a management course is to teach students about management, not to teach them to be managers.” Do you agree or disagree with this statement? Discuss. I do agree with this statement. A management course is to give insight on different managing styles, success and failures of different managers, give insight of what management entails and to help the individual figure out their managing technique.
Chapters Discussion Questions
Chapter 1 Discussion Questions
Q. 7 Is efficiency or effectiveness more important to organizational performance? Can managers improve both simultaneously?
Efficiency is the use of minimal resources to produce a desired volume of output. Effectiveness is the measure by which the organizations achieve their goals. It is my belief that both are equally important. Efficiency and effectiveness are critical to success of the organization. A company is not well rounded if they are not efficiently using resources to provide service or a product to customer that they will value. I reflect back on a previous employer. When first employed there were 5 individuals applying payments, handling departmental deposits, filing, answering phone calls, answering questions, typing letter (and many other financial related duties). After some shifts in the workplace, it soon was reduced to two doing handling the workload. I soon felt as if I was the only one because the other individual arrived to work late, left work early, surfed the internet, and talked on the phone (and many other work and non-work related activities). Though I was able to handle the workload my ability to stay effective diminished. Multiple of errors reduced the quality of my work, ultimately resulting in talks with the boss. As wells as, my co-workers ability to be efficient with time while on the clock, lowered our ability to complete jobs in a timely manner.
Q. 8 A college professor told her students, “The purpose of a management course is to teach students about management, not to teach them to be managers.” Do you agree or disagree with this statement? Discuss. I do agree with this statement. A management course is to give insight on different managing styles, success and failures of different managers, give insight of what management entails and to help the individual figure out their managing technique.