A Bureaucratic Style of Organization Is Slow When Responding to Change

question 362

True/False

A bureaucratic style of organization is slow when responding to change.

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Definitions:

Contract

A legally enforceable agreement between two or more parties that creates mutual obligations.

Commercial Impracticability

The standards used by the UCC, replacing the common law doctrine of impossibility, to define when a party is relieved of his or her contract obligations because of the occurrence of unforeseeable, external events beyond his or her control.

Increased Cost

The rise in the financial expenditure required to perform an activity, purchase goods, or maintain operations.

Collapse of Market

A rapid and significant decline in the value or performance of a market, leading to a widespread loss of confidence and investment.