Name 5 of the nonmonetary factors ie besides profits maximiz

Name 5 of the nonmonetary factors (i.e. besides profits maximization or cost minimization) that can play a significant role in the final recommendation in decision making in a typical engineering organization

Solution

ANSWER:

Besides profits maximization or cost minimization, the nonmonetary factors that can play an important role in the final recommendation in decision making in a typical engineering organization are as follows:

--Maintaining flexibility in production to cope changing demands

--Improvement in employee satisfaction

--Exceeding or meeting the expectation of customers

--Providing safety to employees as well as the public

--Exceeding or meeting the requirements of environment