COMM 305 Study Guide - Final Guide: Red Tape, Imitation, Decision-Making
24 Jan 2015
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Economies of scale: doing things in a bigger scale to reduce costs. Economies of scope: using same raw materials to produce various products. Managerial enterprise: making necessary investment in management, production and distribution in order to capitalize in economies scale and scope. Management hierarchy: separation of upper/lower level management. * doing the right strategies and managerial structures, they can resolve the crisis and move on to the next. Each phase begins with a period of evolution and has its moments of stability and growth but eventually ends with a revolutionary period. Management practices that work well in one phrase brings crisis and chaos in another: organizations should not try to skip phases, top managers whose style is no longer appropriate should remove themselves, growth is not inevitable. Management problems and principles are fixed in time. Size: companies problems and solutions change as number of employees and sales volume increase.
