What are some of the ways to assign authority and responsibility within an organization?
What will be an ideal response?
Answer: It is incumbent on management to identify specific business objectives and assign such objectives to certain departments and individuals. Management must also hold such departments and individuals responsible and accountable for achieving the assigned business objectives. Ways in which management may assign authority and responsibility is through formal job descriptions, employee training, budgets, operating plans, and scheduling. A formal code of conduct also sets the stage for responsible behavior on the part of employees by defining ethical behavior, acceptable business practices, regulatory requirements, and conflicts of interest. Another useful and important tool is a written policy and procedures manual.
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A business' sales are the product of ________
A) average selling price and average margin percentage B) market potential and market demand C) market demand in units and price per unit D) market share and price per unit E) market demand in units and market share
Which of the following is true with regard to a global product structure?
A) A global product structure is disadvantageous for firms with diversified product lines that are aimed at dissimilar or dispersed markets. B) The advantages of this organizational form are market concentration, innovation, and responsiveness to new opportunities in a particular environment. C) In a global product structure, a cluster of products are grouped into a single division. D) A global product structure does not facilitate diversification and inhibits growth.