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Observing that the promotion of employees necessitated the hiring of subordinates, and that time used answering minutes requires more work; Parkinson states: "In any public administrative department not actually at war the staff increase may be expected to follow this formula" (for a given year) [1] = +
By understanding the principles of microeconomics, managers can be well informed to make accurate decisions regarding the firm. [ 5 ] An example of managerial economics using microeconomic principles is the decision of a manager to increase the price of the goods being sold.
Friedman introduced the theory in a 1970 essay for The New York Times titled "A Friedman Doctrine: The Social Responsibility of Business is to Increase Its Profits". [2] In it, he argued that a company has no social responsibility to the public or society; its only responsibility is to its shareholders. [2]
The extended projection principle (EPP) is a linguistic hypothesis about subjects.It was proposed by Noam Chomsky as an addendum to the projection principle. [1] The basic idea of the EPP is that clauses must contain a noun phrase or determiner phrase in the subject position (i.e. in the specifier of a tense phrase or inflectional phrase or in the specifier of a verb phrase in languages in ...
Brooks's law is an observation about software project management that "Adding manpower to a late software project makes it later." [1] [2] It was coined by Fred Brooks in his 1975 book The Mythical Man-Month. According to Brooks, under certain conditions, an incremental person when added to a project makes it take more, not less time.
Sir Thomas Gresham. In economics, Gresham's law is a monetary principle stating that "bad money drives out good". For example, if there are two forms of commodity money in circulation, which are accepted by law as having similar face value, the more valuable commodity will gradually disappear from circulation.
The cover of The Peter Principle (1970 Pan Books edition). The Peter principle is a concept in management developed by Laurence J. Peter which observes that people in a hierarchy tend to rise to "a level of respective incompetence": employees are promoted based on their success in previous jobs until they reach a level at which they are no longer competent, as skills in one job do not ...
Since the 1990s, CEO compensation in the U.S. has outpaced corporate profits, economic growth and the average compensation of all workers. Between 1980 and 2004, Mutual Fund founder John Bogle estimates total CEO compensation grew 8.5 per cent/year compared to corporate profit growth of 2.9 per cent/year and per capita income growth of 3.1 per cent.