The Reorganisation of Organisational Structures Away from the Traditional Functional

question 77

Short Answer

The reorganisation of organisational structures away from the traditional functional approach to one that is based on work processes is known as the _______________ (two words).

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Definitions:

Absolute Advantage

The ability of a country, individual, company, or region to produce a good or service at a lower cost per unit than any competitor.

Trade Deficit

A situation occurring when a country's imports of goods and services exceed its exports, indicating a net outflow of domestic currency to foreign markets.

Major Trading Partners

denotes the most significant countries with which a particular nation conducts a considerable portion of its imports and exports.

Candlemakers

Traditionally, artisans or companies involved in the production of candles for lighting and other purposes.