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Get faster at matching terms Terms in this set (27)Networking Using communications technology and other means to link organizations and allow them to work together on common objectives. real time The present moment or actual time in which something takes place. Virtual corporation A temporary networked organization made up of replaceable firms that join and leave as needed. Benchmarking Compares an organization's practices, processes and products against the world's best. Core competencies Functions that the organization can do as well as or better than any other organization in the world. Digital natives young people who have grown up using the internet and social networking Restructuring redesigning an organization so that it can more effectively and efficiently serve its customers inverted organization an organization that has contact people at the top and the chief executive officer at the bottom of the organization chart Organizational or corporate culture -widely shared values within an organization
that provide unity and cooperation to achieve common goals Formal organization Details lines of responsibility, authority and position. informal organization the system that develops spontaneously as employees meet and form cliques, relationships, and lines of authority outside the formal organization Economies of scale Companies can reduce their production costs by purchasing raw materials in bulk. hierarchy a system or organization in which people or groups are ranked one above the other according to status or authority. Chain of command the line of authority that moves from the top of a hierarchy to the lowest level organization chart A visual device that shows relationships among people and divides the organization's work; it shows who reports to whom. Bureaucracy An organization with many layers of managers who set rules and regulations and oversee all decisions. centralized authority When decision- making authority is maintained at the top level of management at the company's headquarter. decentralized authority When decision-making is delegated to lower-level managers and employees more familiar with local conditions than headquarters is. span of control the optimal number of subordinates a manager supervises or should supervise tall organization structure an organizational structure in which the pyramidal organization chart would be quite tall because of the various levels of management Flat Organizational Structure characteristic of decentralized companies with relatively few layers of management Departmentalization the dividing of organizational functions into separate units line organization Has direct two-way lines of responsibility, authority and communication running from the top to the bottom. Everyone reports to one supervisor. line personnel employees who are part of the chain of command that is responsible for achieving organizational goals staff personnel employees who advise and assist line personnel in meeting their goals Matrix Organization Specialists from different parts of the organization work together temporarily on specific projects, but still remain part of a line-and-staff structure. cross-functional self-managed teams groups of employees from different departments who work together on a long-term basis Recommended textbook solutions
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ECONOMICS Why is structural and technological unemployment more serious than frictional unemployment? Verified answer
ECONOMICS Whether the product market or the labor market, what happens to the equilibrium price and quantity for each of the four possibilities: increase in demand, decrease in demand, increase in supply, and decrease in supply. Verified answer
ECONOMICS Create a simple model to explain how you decide how much time to study and how much time to unwind each evening. You may use words, charts or graphs, or equations. Verified answer
ECONOMICS Economists use the phrase _____ to describe the trade-offs a country is forced to make when choosing between military and consumer production. Verified answer Other Quizlet setsREE 4143 Exam 1102 terms Lex_Nichole exam 2 a and p64 terms Oliviavdn_ Anatomy Final Study Guide171 terms madison_rose8351 FON: Final100 terms JungMyung_Lee3 Related questionsQUESTION The basic breakeven model addresses the question of whether customers will actually purchase the product at the specified price in the quantity required to break even or make a profit. 3 answers QUESTION Competitiveness to competitors with regard to pay mix and forms are? 3 answers QUESTION A 'cafeteria plan' is a form of benefit design. True or false 4 answers QUESTION If the businesses in the corporate portfolio are not worth more under the management of the corporation than they would be under any other ownership, then the corporate-level strategy has failed. (t/f) 2 answers When a company compares its practices processes and products against the world's best organization it is?Benchmarking is defined as the process of measuring products, services, and processes against those of organizations known to be leaders in one or more aspects of their operations.
What is the degree to which tasks are subdivided into smaller jobs?Division of Labor
The degree to which the tasks are subdivided into smaller jobs is called specialization.
What is an advantage of a line organization in a large business?Economical and effective. It also allows quick decisions and efficient coordination. Conforms to the scalar principle of organization. Further, it promotes the unity of command.
What determines the degree of decentralization of a firm?Answer: Some important factors determining decentralization are: The size and complexity of the organization. Dispersal of operations. Degree of diversification.
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