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Contingency Approach:
Industrial behavior relies on a contingency approach to management in both theory and practice. Two people can act another way in the same condition, and a person's behavior is various in various conditions. For example, not everyone is motivated by cash, although some people are. This complexity means that company behavior must reflect situational performance or "possibility conditions." We can say that behavior X leads to outcome Y but only under conditions Z. An example would be that an employee's effort leads to high efficiency if the equipment is working at 100 percent efficiency. Hence, the state of the equipment becomes the possibility variable.
Advantages of Statistical Methods: a.Involve relatively large number of observations. b.Analysis is more objective. c. Averages and percentages are calculated. d.Permits the rese
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Cash Flow Statement: Cash flow is a financial statement that summarizes an organizations sources and uses of cash over a specific period of period. Cash flow statements a
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