MGT 3200 Chapter Notes - Chapter 10: New Coke, Pepsi Challenge, Customer Satisfaction
Document Summary
Narcissistic people take greater risks, might get a lot of profit but at a huge cost. You wouldn"t want to place your investments of your retirement fund with a narcissistic person. Invitation to management: what is management, definition of management. Management is the process of achieving desired results through the efficient utilization of man and material resources: two key concerns of management. Effectiveness refers to doing the right things at the right time. Efficiency refers to minimizing waste or reducing resource cost. If you are cutting cost that doesn"t mean you are always efficient. More you are concerned about being efficient it is easier to be effective. Maximum efficiency cost going down and productivity going up. Efficient organization tend to be effective ones (but not guaranteed) Application question: ford cars:the red car has the engine of the jaguar but the outside of an older model that didn"t look expensive.
