An Organization Chart Is Often Used to Depict the Structure

question 24

Multiple Choice

An organization chart is often used to depict the structure of an organization.The chart is also used to

• A)present a "snapshot"of the firm at a particular point in time.
• B)indicate the types of departments established in the firm.
• C)specify duties and responsibilities.
• D)clarify the chain of command and show who is accountable to whom.
• E)do none of the above.

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Definitions:

Profitability

The degree to which a business or activity yields profit or financial gain.

Oligopolists

Firms within a market structure characterized by a small number of large firms controlling the market, often leading to limited competition.

R&D

Stands for Research and Development; it involves activities undertaken by businesses and organizations to innovate and introduce new products or services.

Marketing and Advertising

The activities involved in promoting and selling products or services, including market research and advertising campaigns.