MGT 3200 Study Guide - Midterm Guide: Foot Locker, Corporate Welfare, Market Environment
Document Summary
efficiency is concerned with reducing waste or minimizing resource costs since many resources are scarce. it is a science b/c we develop theories of managing & then test them using the scientific method w/ empirical evidence. industrial revolution changed how work was performed; dividing up labor causes a need for managers. ensures that the plans developed by top managers & middle managers are implemented by laborers w/ minimum costs.
