Topics: Decision theory, Management, Decision making Pages: 1 (417 words) Published: October 27, 2014

Discussion Questions
Page 43
How does today´s business world compare with the one of 40 years ago? What is different about today, and what is not so different? R. What is scientific management? How might today´s organizations use it? R. This approach advocated the application of scientific methods to analyzing work and to determine how to complete production efficiently. Organizations today can use Taylor’s scientific management to streamline their roles within an organization. Develop and train people to be subject matter experts, this will in turn put the right people in the right job. Table A. I lists Fayol´s 14 principles of management, first published in 1916. Are they as useful today as they were then? Why or why not? When are they most, and least, useful? R. Yes, because they give us the way forward to run a business efficiently, are more useful at the beginning of the process (as when one needs to establish the foundation founder), I think there is no time when they are not useful What are the advantages and disadvantages of a bureaucratic organization? R. The advantages of a bureaucratic organization is that each role is standardized, if there are any personnel changes there is very little effect to that organization. It fosters specialized skills, which then eliminate the immanent judgment by managers. If followed correctly all people, whether it be employee or customer are treated equally. The disadvantage of a bureaucratic organization is that departments that have a need for quick response and flexibility will suffer, and may not be able to accomplish their best with excessive bureaucratic rules and producers.

In what situations are quantitative management concepts and tools applicable?R. When a manager make a decision by developing formal mathematical models of the problem. In techniques as statistical decision theory, linear programming, queuing theory, simulation, forecasting, inventory modeling, network modeling and break-even...
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