Because of the Challenges Top Executives Face, They Often Are

question 37

True/False

Because of the challenges top executives face, they often are more effective when they operate as top management teams.

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Definitions:

Central Point of Accountability

The specific position or individual within an organization assigned the responsibility for overseeing the successful achievement of certain objectives or tasks.

Functional Structure

An organizational design where the company is divided into departments based on specialized functions, such as marketing, finance, or operations.

Economies of Scale

The cost advantages that enterprises obtain due to size, output, or scale of operation, with cost per unit of output generally decreasing with increasing scale as fixed costs are spread out over more units of output.

Expertise

Refers to the high level of knowledge or skill in a particular field or domain, acquired through training, experience, or study.