At Whirlpool, North American operations are organized in a matrix structure. What is the key to successful matrix management?
What will be an ideal response?
The key to successful matrix management is ensuring that managers are able to resolve conflicts and achieve integration of organization programs and plans. The mere adoption of a matrix design or structure does not create a matrix organization. The matrix organization requires a fundamental change in management behavior, organizational culture, and technical systems. In a matrix, influence is based on technical competence and interpersonal sensitivity, not on formal authority. In a matrix culture, managers recognize the absolute need to resolve issues and choices at the lowest possible level and do not rely on higher authority. An important task of the current day top management is to eliminate a one-dimensional approach to decisions and encourage the development of multiple management perspectives and an organization that will sense and respond to a complex and fast-changing world.
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For expenses, the category of account and its normal balance is ________.
A) equity and a credit balance B) assets and a debit balance C) assets and a credit balance D) equity and a debit balance
The materiality concept states that a company must ________
A) report only such information that enhances the financial position of the company B) perform strictly proper accounting only for significant items C) report enough information for outsiders to make knowledgeable decisions about the company D) use the same accounting methods and procedures from period to period