Apple's Smart Team Is an Example of a Firm That

question 16

Multiple Choice

Apple's smart team is an example of a firm that succeeded by:

• A) encouraging each manager to focus on a well-defined area of the business and build his own specialized department.
• B) bringing together a group of talented and experienced managers to conceive, develop, and market products.
• C) emphasizing a low price and low-cost strategy right from the beginning.
• D) assembling a group of employees whose inexperience was a plus, because they did not come with the baggage and institutional ideas of larger companies.

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Definitions:

Liability

A company's legal financial debts or obligations that arise during the course of business operations.

Dividends

Regular payments made by a corporation to its shareholders out of its profits or reserves.

Shareholders

Persons or organizations that possess stock in a corporation, thus holding a stake in the business.

Double Entry System

A method of bookkeeping where every entry to an account requires a corresponding and opposite entry to a different account, effectively balancing the accounting equation.