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A company's management team analyzes market trends, competitor actions, and customer feedback to adapt its production schedule and marketing strategy. This approach, which views the organization as an open system that must continuously adjust to its external environment, aligns with which characteristic of modern management thought?

AMultidimensional

BMultidisciplinary

CAdaptive

DMultivariable

Answer:

C. Adaptive

Read Explanation:

  • Modern management theory, specifically the Systems Approach, considers an organization as an system that adjusts to changes in its dynamic environment. The scenario described, where the company analyzes external factors like market trends and competitor actions to modify its internal strategies, is a perfect example of this adaptive characteristic. The Multidisciplinary characteristic states that management integrates ideas from fields like psychology and sociology. Multivariable notes that an event can be the result of many interrelated and interdependent factors. Multidimensional refers to an organization's internal structure and various subsystems, such as finance, marketing, and personnel.

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Related Questions:

Which of the following describes the nature of administration ?
A manager who emphasizes the importance of providing a clean and well-lit workspace, and offering fair pay to motivate employees, is applying principles from which management theory?

Consider the following statements regarding the characteristics of Modern Management Thought, specifically the Systems Approach: Which of the above statements is/are correct?

  1. It is considered a "Multivariable" approach because it recognizes that an event can be the result of a single cause and effect relationship.
  2. It is an "Adaptive" approach because it treats the organization as an open system that must continuously adjust to its external environment.
  3. It is a "Multidisciplinary" approach that integrates ideas from various fields like psychology, sociology, and economics into management theory.

    Consider the contributions of early management thinkers to the field.

    1. Robert Owen, a social reformer, is credited with emphasizing the human relations aspect of management by introducing welfare measures in his factories.
    2. Henry Robinson Towne argued that management was an exact science and urged manufacturers to apply scientific and mathematical methods instead of opinions.
    3. Charles Babbage is noted for introducing the differential piece-rate system, where workers were paid based on their efficiency, an idea later refined by F.W. Taylor.
      A manager at which level is most likely to possess strong conceptual skills and be primarily responsible for determining the basic operating and financial structure of the organization?