When he took over the furniture factory three years ago

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A magazine, in an article dealing with management, wrote, When he took over the furniture factory three years ago [the manager] realized almost immediately that it was throwing away at least $100,000 a year worth of wood scrap. Within a few weeks, he set up a task force of managers and workers to deal with the problem. And within a few months, they reduced the amount of scrap to $7,000 worth [per year]. Was this necessarily an economically efficient move? Explain your answer.

Reference no: EM13155370

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