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Explain what a formal organization is and how this is different from other organizations. Describe two types of formal organizations and give an example of each.
Corporate Social Performance
How a company manages its social responsibilities, impacting stakeholders and contributing to sustainable development.
Virtuous Circle
A chain of positive events that reinforce themselves through a feedback loop, leading to further beneficial outcomes.
Rationalization
The process of offering a logical or reasonable explanation for behaviors or decisions that might otherwise appear irrational.
Government Contract
A legally binding agreement between a business and a government entity for the supply of goods or services.
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