Which Term Best Refers to the Various Groups of People

question 30

Multiple Choice

Which term best refers to the various groups of people or organizations that have an interest in the actions and success of a firm?

• A)pillars
• B)shareholders
• C)consumers
• D)stakeholders

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Definitions:

Decentralization

The distribution of decision-making powers and operational responsibilities away from a central authority to individual units or levels within an organization or system.

External Environment

All external forces or factors that impact an organization's performance, including competition, economy, laws, and social trends.

Diverse Environments

Contexts or settings characterized by a wide range of differences, including cultural, biological, social, and ecological variation.

Mechanistic Structures

Organizational designs characterized by rigid hierarchies, strict rules, and clear, centralized decision-making processes.