Bureaucracy can be defined a

A. a classical management approach that applied scientific methods to analyze and determine the “one best
way” to complete production tasks.
B. a classical management approach that attempted to understand and explain how human psychological and
social processes interact with the formal aspects of the work situation to influence performance.
C. a classical management approach that attempted to build into operations the specific procedures and
processes that would ensure coordination of effort to achieve established goals and plans.
D. a contemporary management approach that emphasizes the application of quantitative analysis to managerial decisions and problems.
E. a classical management approach emphasizing a structured, formal network of relationships among specialized positions in the organization.

Ans: E. a classical management approach emphasizing a structured, formal network of relationships among specialized positions in the organization.

Business

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What stipulates how a firm will handle each phase of the credit decision?

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