The Process of Setting Up Individual Departments to Do Specialized

question 106

True/False

The process of setting up individual departments to do specialized tasks is called job specialization.

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Definitions:

Joint Ventures

A business arrangement where two or more parties agree to pool their resources for the purpose of accomplishing a specific task or business activity, with profits and losses shared among them.

Sherman Act

A foundational antitrust law in the United States that outlaws monopolistic practices and promotes competition.

Felony

A serious criminal offense that is punishable by death or imprisonment for more than one year.

Imprisonment

The state of being confined in prison as a punishment for crimes committed.