To Succeed in a Rapidly Changing Environment, an Organization Needs

question 76

Multiple Choice

To succeed in a rapidly changing environment, an organization needs to have a more _________ structure.

• A) centralized
• B) formalized
• C) bureaucratic
• D) mechanistic
• E) flexible

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Definitions:

Discount Period

The Discount Period refers to a specific timeframe during which a buyer can pay less than the full invoice amount as an incentive for early payment.

Credit Terms

Conditions under which credit is extended by a seller to a buyer, including payment period, discount for early payment, and late penalty.

Accounts Payable

Liabilities or amounts owed to creditors for goods and services received but not yet paid for.

Merchandise Inventory

The goods a company holds for the purpose of sale to customers.