Topic > Management principles - 551

1B. The definition of six sigma is six standard deviations from the mean. Six sigma is a method used to examine and improve processes.2B. The trade balance is the difference between the value of the goods a country exports and the value of the goods it imports. A country that exports more than it imports runs a trade surplus. On the other hand, a country that imports more than it exports has a trade deficit of 3B. Perception in the context of communication determines how one will communicate and receive information from another person.4B. Organizational decentralization refers to the degree of authority delegated from upper management to lower management levels. Basically, lower levels of management are given more decision-making power, without going through the chain of command.5B. The principle of bounded rationality states that people lack the ability to formulate and solve complex problems, due to the amount of time and information they have and their way of thinking. In most situations, people will take the satisfactory approach that would be ...