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question 79

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Comprehend the principles behind various organizational designs including simple design, adhocracy, and bureaucracy.
Recognize the influence of technology on organizational structure and design, including operations technology and information technology.
Understand the characteristics and implications of process designs and technology classifications in organizations.
Understand the legal principle of disaffirmance by minors in contracts.

Definitions:

Bound

In legal terms, it refers to being legally or ethically obligated to do something.

Declare And Distribute

The process by which a company announces and then allocates dividends to its shareholders.

Dividends

Payments made by a corporation to its shareholder members, derived from the company's profits.

Excess Solvency

refers to the situation where a company holds significantly more assets or financial reserves than the minimum required by regulators to cover its liabilities and potential claims.

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