Define Organizational Development and Describe Its Importance in Relation to the Implementation

question 40

Essay

Define organizational development and describe its importance in relation to the implementation of a business plan and strategy.

---

Definitions:

Limited Partners

Investors in a partnership who are not involved in daily business operations and whose liability is limited to the amount of their investment.

Limited Liability

A legal principle that limits the financial liability of company owners to the amount they've invested in the business, protecting personal assets from company debts and obligations.

Equally Liable

A condition under which multiple parties are held jointly responsible to the same extent for a legal obligation or debt.

LLC Member

An owner or part-owner of a Limited Liability Company, who contributes to the business and shares in its profits and losses.