Question a prominent consultant was once asked how much, Ask an Expert

Management Studies

Question

A prominent consultant was once asked: "How much should a company spend making an important business decision?" His response: "I always recommend the ‘10 Percent Rule.' So, if the decision is about an expenditure of $100,000, then the company should spend roughly $10,000 making the decision.

If the expenditure would be $10,000, then making the decision should cost $1,000. And so on." What do you see as the strengths and weaknesses of the 10 Percent Rule?

View complete question

Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92770264

Have any Question?Write your Review or question?

Related Questions in Operation Management

For good internal control which of the following duties can

For good internal control, which of the following duties can be performed by the same individual? Explain your answer. 1. Approving changes to customer credit limits 2. Sales order entry 3. Shipping merchandise 4. Billin ...

A real estate investor has the opportunity to purchase land

A real estate investor has the opportunity to purchase land currently zoned residential. If the county board approves a request to rezone the property as commercial within the next year, the investor will be able to leas ...

Entrepreneurs please respond to the following with a

Entrepreneurs Please respond to the following with a 250-300 word response: Analyze the characteristics of a successful entrepreneur (see pages 5-7 in textbook) and determine if you have what it takes to start your own b ...

1 what are some political risks in brazil that would be

1. What are some political risks in Brazil that would be affecting a technology firm with its operations? 2. Activity Based Costs (ABC) what is it and how does it impact profitability. 3. How do business and consumer opp ...

Describe the leadership of a professional organization to

Describe the leadership of a professional organization to which you belong in terms of the five core leadership tasks discussed in your textbook. Is the leadership shared among several people or implemented by just one p ...

Assume you own a small company that is successful so you

Assume you own a small company that is successful, so you plan to expand. To raise expansion capital, would you prefer to use debt (promissory notes, bonds, and debentures) or rely on equity interests by issuing additio ...

In the highly turbulent airline industry southwest airlines

In the highly turbulent airline industry, Southwest Airlines is one of the healthiest companies, continuing growth and profit in a climate that is threatening the survival of other airlines. Much of its success is attrib ...

Company is appleapple who you are - software developer team

Company is Apple Apple (who you are - Software developer) (Team you manage – App management ). What type of training do your employee needs? Why do they need training? Need Analysis info Determine an instructional scenar ...

1 what are the four rules that have to be followed to use a

1. What are the four rules that have to be followed to use a Poisson distribution? 2. What are the professional certifications in supply chain management commonly used or highly valued in the industry? 3. Can you help me ...

A jewelry firm buys semiprecious stones to make bracelets

A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.20 per stone for quantities of 600 stones or more, $8.70 per stone for orders of 400 to 599 stones, and $10 per stone ...

4,153,160 Questions Asked
13,132 Experts
2,558,936 Questions Answered

Ask Experts for help!!

Looking for Assignment Help?

Start excelling in your Courses, Get help with Assignment

Write us your full requirement for evaluation and you will receive response within 20 minutes turnaround time.

Ask Now Help with Problems, Get a Best Answer

Recent Questions

Ask Operation Management Expert