In Which Business Structure Is the Firm a Hierarchy Organized

question 45

Multiple Choice

In which business structure is the firm a hierarchy organized around a set of functions. Each group has a core competency that it concentrates upon.

• A) Technology
• B) Business reengineering approach
• C) Functional
• D) Process Control
• E) Business process

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Definitions:

Economic Theory

A set of principles and models that explains how economies operate and how economic agents interact.

Total Profit

The difference between a firm's total revenue and its total costs, indicating the overall financial gain from its business activities.

Principle of Marginal Analysis

The principle of marginal analysis involves making decisions based on the additional benefits and costs of an action compared to its alternatives.

Expected Exam Scores

The anticipated average or range of marks a student or group of students is predicted to achieve in an examination.