1. The structure of a simple organization • A. limits the owner's(s') control • B. correct maximizes the owner's(s') control • C. minimizes the owner's(s') control • D. slightly increases the owner's(s') control Correct : Since simple organizations tend to be made up of one or a few owners and just a few employees, the owner’s(s’) level of control is extremely high. Materials • Simple Organizational Structure 2. This structure is one in which a set of relatively autonomous
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I. The Environment of Business 1. What Is Business? © The McGraw−Hill Companies, 2007 C H A P T E R 1 What Is Business? Learning Objectives After studying this chapter you should be able to: 1. Differentiate between the three meanings of business as commerce, business as an occupation, and business as an organization, and identify the four main kinds of productive resources. 2. Understand how the forces of supply and demand determine fair, or market, prices. 3. Appreciate how
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A. Compare the cultures of the two companies using the relevant values in the attached “Competing Values Framework.” The Competing Values Framework model was developed for cultural assessments of organizations that shows the effectiveness in a two dimensional layout. In the Competing Values Framework model, there are four culture representations, Adhocracy, Clan, Market and Hierarchy. The Symphony and the Opera fit into one of the categories as individual organizations. More will be discussed
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in. And it was very necessary for the company to do a full research before launching a new product. The company had strong values and policies, which it needed for its managers to follow. Breakfast cereal market was a potential market and there was only one major competitor, Kellog. With the growing demand of the ready to eat cereals, the company was now in a highly competitive industry. To develop a new brand, was both expensive and time taking. The company had now stepped into European market after
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2013] said that structure "is the internal differentiation and patterning of relationships." He referred to structure as the means by which the organization sets limits and boundaries for efficient performance by its members, by delimiting responsibilities, control over resources, and other matters. Katz and Kahn [1978] say that "structure is to be found in an interrelated set of events which return to complete and renew a cycle of activities." The different organizational structures are Functional
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Organizational structures can easily hinder or foster innovation. Potential pitfalls can derive as a result of deeper factors embedded in a firm’s organizational DNA. Without a doubt, innovation is the key driver of value creation if companies want to remain on the competitive edge. Although there is no perfect organizational structure for every innovation environment, different types of organizations work successfully under different circumstances. Three different types of organizational structures will be
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Strategic Management - Exam Three Study Guide Corporate Level Strategy Part I. Chapters 13 & 15 (pages 392-404, 450-459, 461-464) 1. Benefits and Costs of Concentration A. Benefits (Advantages): 1) Firms can master one industry environment (top managers acquire an in-depth knowledge of the industry) 2) All resources are put back into the business (creates sustainable competitive advantage) 3) There are typically lower overhead costs and fewer “layers” in the
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Traditional views on capital structure point to the existence of an optimal capital structure. Critique the analysis of the traditional views on capital structure in light of the competing views offered by Modigliani and Miller along with their assumptions. Capital structure refers to the way a corporation finances its assets through some combination of equity, debt, or hybrid securities. Stewart C. Myers argues that there is “no magic” in leverage and there is nothing supporting a presumption
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type of company or organization that exists operates with a certain organizational structure. However, the organizational structure is tailored to best meet the needs and services of the company. Organizational structures are used as a means of communicating how business will take place within an organization. The structure of an organization is important to the main areas that make an organization function effectively. Organization functions and designs determine the organizational structure. Memphis
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approaches a leader take to solve a certain problem changes in different scenarios. The best leadership style depends on the issues the organization face and its culture according to www.edcucationalbusiness.com. A company I worked for their leadership style that entail in my company of the CEO is situational leaning towards participative leadership style. Such a style requires the leader to be adaptable to the situation and to the abilities of the team. The leaders quickly adjust themselves to the
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