Explain the Difference Between a Firm's Formal Organization and Its

question 179

Essay

Explain the difference between a firm's formal organization and its informal organization. Why are both types of organization important to managers?

---

Definitions:

ESG Criteria

Environmental, Social, and Governance criteria, which are standards for a company’s operations that socially conscious investors use to screen potential investments.

Competitive Financial Returns

Financial gains that are favorable when compared to other investments or competitors, often used as a measure of performance or success.

Consumer Complaints

Reports made by customers expressing dissatisfaction with goods or services.

Employees

Individuals hired by a firm to perform work in exchange for compensation, under the firm's control and direction.