ITM 102 Lecture Notes - Standard Operating Procedure, Agency Cost, Transaction Cost

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greyrhinoceros682

1 Dec 2011

School

Ryerson University

Department

Information Technology Management

Course

ITM 102

Professor

Vikraman Baskaran

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Document Summary

Capital and labour are primary production factors provided by the environment. Stable, formal social structure that takes resources from environment and processes them to produce outputs. A formal legal entity with internal rules and procedures, as well as a social structure. A collection of rights, privileges, obligations, and responsibilities that is delicately balanced over a period of time through conflict and conflict resolution. Principle of efficiently: maximizing output using limited inputs. Routine (standard operating procedure) are precise rules, procedures and practices that have been developed to cope with virtually all expected situation. Firm become more efficiently for producing goods and services as employees learn the routine. Occupy different positions with different specialties, concerns, and perspectives (leads to political struggle, competition and conflict). Divergent viewpoint about how resources, rewards, and punishment should be distributed. All organizations have bedrock unassailable, unquestioned assumptions that define their goals and products. Organizations and environments have a reciprocal relationship.

Related Questions

5. The competency modeling approach may be increasing in popularity because: a) competency modeling is useful in today's rapidly changing environment. b) organizations were dissatisfied with the poor reliability of job analysis procedures. c) compared to job analysis, competency modeling provides a better explanation of required tasks. d) the increasing specialization of jobs requires a more rigorous procedure than job analysis. e) competency modeling is more useful than job analysis in hierarchical organizations.

32) Which of the following best describes the term gross domestic product? a) total value of all goods and services produced within a given period by a national economy through domestic factors of production total quantity of goods and services produced by an economic system conditions of the economic system in which an organization operates total quantity and quality of goods and services that a country's citizens can purchase with the currency used in their economic system total value of all goods and services produced by a national economy within a given period regardless of where the factors of production are located

16) Which of the following best defines the term business cycle? a) the pattern of short-term ups and downs in an economy the total quantity of goods and services produced by an economic system during a given period the conditions of the economic system in which an organization operates the measure of economic growth that compares how much a system produces with the resources needed to produce it d)

ITM 102 Lecture Notes - Standard Operating Procedure, Agency Cost, Transaction Cost

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