All the Following Are Strengths of an Organization Designed by Function

question 89

Multiple Choice

All the following are strengths of an organization designed by function except

• A) It gives high visibility to products and services.
• B) Specialists can form collegial relationships.
• C) It emphasizes specialization within the organization.
• D) It brings focus to each function's goals.

Understand the key characteristics of sole proprietorships, including their size, liability, and control.

Recognize the advantages and disadvantages of sole proprietorship in comparison to other forms of business ownership.

Identify the forms of business that provide owners with limited liability.

Understand the impact of business ownership forms on control, decision-making, and regulatory obligations.

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Definitions:

Merchant Wholesaler

An entity involved in buying goods in bulk from producers and selling them, usually in smaller quantities, to retailers or other businesses, but not to end consumers.

Full-Service

A type of service that provides comprehensive coverage of needs or requirements in a particular area, offering a wide range of services or features.

Rack Jobber

A company that provides and manages inventory for retail shelves, often specializing in music, magazines, books, or electronics, and retaining ownership until items are sold.

Consignment

An arrangement where goods are left with a third party to sell, but the ownership remains with the supplier until the goods are sold.