The Cross-Functional Team Approach Assumes

question 36

Multiple Choice

The cross-functional team approach assumes:

• A) workers must be in teams to be motivated
• B) centralisation of authority is good
• C) all employees, regardless of function, can contribute and help to solve problems
• D) ideal organisational structure to be tall structure
• E) management cannot function without them.

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Definitions:

Usury Law

Legislation that sets maximum interest rates that can be charged on loans, to prevent excessive interest.

Market Equilibrium

A market state where the quantity supplied equals the quantity demanded, leading to a balance in price and volume.

Interest Rate

The cost of borrowing money expressed as a percentage of the total amount borrowed.

Nominal Interest Rates

are the stated interest rates unadjusted for inflation, representing the actual current cost of borrowing or the raw yield on savings.