What Is the Main Advantage of Small Business That Helps

question 100

Multiple Choice

What is the main advantage of small business that helps retain effective employees who could earn more at a larger firm?

• A) Better pay and employee benefits
• B) Ability to adapt to change
• C) Simplified record keeping
• D) Limited ability to raise capital
• E) Personal relationships with employees

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Definitions:

Standardization

The process of implementing and developing technical standards to ensure consistency, safety, and interoperability of products or services across different areas or sectors.

Formalization

The extent to which organizations standardize behavior through rules, procedures, protocols, and formal structures.

Vertical Differentiation

The structuring of an organization into levels of hierarchy, often to distinguish between varying degrees of authority and responsibility.

Empowerment

A process aimed at giving employees more autonomy, authority, and control over their work and decision-making to improve engagement and performance.