Whether a Business Is Large or Small, the Starting Point

question 119

Multiple Choice

Whether a business is large or small, the starting point in developing its organization structure is

• A) determining a strategic plan.
• B) appointing a board of directors.
• C) establishing a mission statement.
• D) determining who will do what.
• E) None of these are correct.

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Definitions:

Hour

A unit of time equal to 60 minutes.

Opportunity Cost

Skipping over the possibility of gain from multiple options by deciding on a single one.

Opportunity Cost

The cost of choosing one option over alternative uses of resources or opportunities.

Inflation

A sustained increase in the general price level of goods and services in an economy over a period of time, leading to a decrease in the purchasing power of currency.