Many Firms Today Are So Diversified That They Cannot Be

question 4

True/False

Many firms today are so diversified that they cannot be classified by industry.

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Definitions:

Global Competition

The scenario where businesses compete across national borders in various markets, driven by increasingly interconnected world economies.

Organizational Design

The process of shaping an organization's structure and roles to align with its objectives, strategy, and environment.

Functional Structure

An organizational design that groups employees based on their specialized roles or functions, enhancing efficiency and expertise.

Telecommunications

The transmission of information over significant distances by electronic means, such as through phone lines, the internet, or wireless networks.