Asked by Elizabeth Ridgeway on Jun 10, 2024
Verified
The view that people will rationally consider available opportunities and do whatever is necessary to achieve the greatest personal economic gain is the underlying assumption of which approach to management thought?
A) quantitative approach
B) socio-economic approach
C) modern approach
D) classical approach
E) behavioural approach
Economic Gain
The increase in financial value or wealth, often resulting from business activities, investments, or measures of economic performance.
Management Thought
The theories and principles that guide the practices and decisions of managers in planning, organizing, leading, and controlling an organization.
Rational Consideration
The process of making decisions based on logical inference, facts, and analysis rather than emotions or intuition.
- Understanding the traditional management theory and its significance in today's organizational frameworks.
Verified Answer
Learning Objectives
- Understanding the traditional management theory and its significance in today's organizational frameworks.
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