wiz-icon
MyQuestionIcon
MyQuestionIcon
8
You visited us 8 times! Enjoying our articles? Unlock Full Access!
Question

Unique enterprises is able to achieve the target production of 5,000 units within the prescribed time; however to achieve this target they hired extra workers on adhoc and spent around is 40,000 extra to pay the adhoc workers so that target production can be achieved on time.
(1) Do you think unique enterprise is effective or efficient?
(2) Was their decision to hire adhoc workers to achieve the target, correct?
(3) Explain the concept of management highlighted above.

Open in App
Solution

(1) Unique enterprise is effective but not efficient
(2) No, the decision to hire adhoc workers and spending extra is not correct, this will reduce the efficiency of enterprise
(3) The concept referred in this case is "Balance between effectiveness and efficiency"

flag
Suggest Corrections
thumbs-up
0
similar_icon
Similar questions
View More
Join BYJU'S Learning Program
similar_icon
Related Videos
thumbnail
lock
Introduction to Business
BUSINESS STUDIES
Watch in App
Join BYJU'S Learning Program
CrossIcon