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According to Burns \& Stalker's (1961) contingency theory: (Lecture) Managers must determine the degree of environmental uncertainty and adapt the organization to that situation There is one best organizational design or structure for all situations The best companies are those with a clear organizational structure Organizations must be designed to fit their managers' personality and values regardless of the environment Functional organizational structures are better than divisional structures Examine the following PERT estimates. Given this data, what is the time estimate (Te) that you would enter into a PERT Network (Lecture)? (Tm=42,Tp=60. To =36 ) Not enough information to calculate 138 23 53 44 According to portfolio theory, what is the best way for a corporation to avoid failing? (Text) Sell off questionable businesses Focus only on large and growing markets Hire a great portfolio manager Become diversified Conduct regular environmental scanning sessions. What is the best definition of a variance in reference to performance reports (Lecture)? Difference between management and employee estimates of costs and revenue Difference between a budgeted and actual figure Amount of change in revenue over a fixed period of time Degree to which there is a difference between strategic and operational plans Amount of change in costs over a fixed period of time