You Have Learned About the Traditional and New Design Options

question 4

True/False

You have learned about the traditional and new design options for organizational structures. You have decided that one of the designs developed during the last decade or two is probably the most appropriate for your newly formed organization.
-A virtual organization lacks flexibility.

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Definitions:

Business Owner

An individual or entity that legally possesses a company, is responsible for its operations, and enjoys the benefits of its success.

Penniless

Refers to having no money; being very poor.

Capacity

The maximum level of output that a company can sustain to produce in a given period under normal circumstances.

Contract

A legally binding agreement between two or more parties that outlines obligations and rights of the parties involved.