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Explain the Difference Between a Firm's Formal Organization and Its

question 179

Essay

Explain the difference between a firm's formal organization and its informal organization. Why are both types of organization important to managers?


Definitions:

Professional Salespeople

Skilled individuals who specialize in selling products or services, often possessing advanced knowledge of sales techniques and customer service.

Value

Value refers to the importance, worth, or usefulness of something, often in terms of its perceived benefits versus cost.

Price/Value Formula

A strategy or equation used to determine the appropriate price of a product or service based on its value to the customer and the market demand.

Tropical Fish Displays

A setup intended for the keeping and showing of tropical fish in a controlled, aesthetically pleasing environment.

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