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Exam 7: Entrepreneurship and Forms of Business Ownership

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Question 21

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The goal of any restructuring initiative should be to increase the _______ and the long-term health of the organization.

A) value
B) liquidity
C) costs
D) demand
E) appeal

F) C) and E)
G) B) and C)

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Question 22

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The ability to create a more efficient and effective structure,and create stronger customer relationships,can result in a creative advantage in the marketplace.

A) True
B) False

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Question 23

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As departments change,so must the business system framework required to ensure the successful execution of the revised strategic direction.

________ refers to the decision-making hierarchy,the delegated span of control within an organization,and the allocation of position power within it.

The more complex the job,the narrower the span of control.

Restructuring an organization can be in response to an immediate need to reduce costs.

The optimum number of subordinates a manager should supervise is referred to as the span of control.

"What specializations will best achieve the strategies?" is one of the key questions that managers should take into consideration when developing the organization's framework?

_______ relates to the formal framework around which the business system is designed and how such a structure directs and influences collaboration,the exchange of knowledge,the communication of and sharing of ideas,and the work environment surrounding the accomplishment of tasks and the meeting of responsibilities.

The goal of any restructuring initiative should be to increase the appeal and the long-term health of the organization.

Organizations that require consistent production standards to help create a high quality public image would tend to favour:

Mechanisms for Effective Talent Management defines the managerial evaluation and control processes utilized to determine the success of the organization in meeting its strategic and operational goals and objectives

A flat organizational structure is designed to be more responsive to the needs of management.

Hierarchy requirements is often referred to as the "Chain of Command".

Geographic dispersion is a factor used to determine the best organizational structure for a particular company?

________ refers to the process of dividing organizational functions into separate units.

Which of the following is a disadvantage of decentralized management?

________ refers to the need of the organization to fully analyze the type,number,and responsibilities of the various positions and align these to the tasks needed to be completed.

Culture reflects the ________ aspect of the internal processes and procedures which the organization uses to facilitate the completion of tasks and the management of outcomes.

What is restructuring,and what is the rationale for an organization to initiate such an exercise?