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Define Fordism and Describe Two Features of This Production System

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Define Fordism and describe two features of this production system.


Definitions:

Company Success

The achievement of a business in meeting its goals and objectives, which can include profitability, growth, and market share.

Organizations

Organizations are structured groups of people who work together to achieve common goals or fulfill a specific function.

Major Components

Essential elements or parts that constitute the foundation or structure of a system, process, or object.

Compensation System

The combination of salary, wages, and benefits that an employer provides to employees in exchange for their work.

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