MGT Review

MGT Review - August 31, 2006 Legacy costs pensions,...

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August 31, 2006 Legacy costs – pensions, retirement benefits, and healthcare benefits Management – process of achieving desired results through the efficient utilization of human and material resources Two Key Concerns of Management: o Effectiveness – doing the right things at the right time o Efficiency – minimizing waste or reducing resource cost in producing the good or service Maximum efficiency would be to increase production while minimizing costs Effectiveness and efficiency are related o Most of the time, official organizations that are efficient, will also be effective Application Question: Ford Motor Company who owns Jaguar in 2002 decided to trim costs in the British unit by using a Ford midsize chassis for its Jaguar X-type sedan. At the same time they dropped the price on the X-type to less than $30K to attract more buyers. However, consumers were unimpressed and commented that the X-type had no pizzazz. In fact, your humble instructor called it the
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This note was uploaded on 05/06/2008 for the course MGT 3200 taught by Professor Sauley during the Spring '06 term at LSU.

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MGT Review - August 31, 2006 Legacy costs pensions,...

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