Gerald Is the Owner of a Popular Restaurant

question 51

Multiple Choice

Gerald is the owner of a popular restaurant.He has appointed a manager who takes care of the day-to-day operations of the restaurant and reports to Gerald at the end of a week.The manager is assisted by a junior manager,who supervises the rest of the staff in the restaurant.Thus,Gerald's restaurant is using a _____.

• A)matrix structure.
• B)line structure.
• C)line-and-staff structure.
• D)multidivisional structure.
• E)web structure.

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Definitions:

Operating Agreement

Operating agreement is a legal document outlining the governance and operating procedures of a limited liability company (LLC), including the rights and responsibilities of the members.

Member-managed

A management structure of a limited liability company where all members participate in the decision-making processes.

Market Price

The current value at which an asset or service can be bought or sold in a market, often determined by supply and demand dynamics.

Cooperative

An organization formed by individuals to market new products. Individuals in a cooperative pool their resources to gain an advantage in the market.