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Owing to Financial Problems in the Organization, the Top Management

question 7

Multiple Choice

Owing to financial problems in the organization, the top management of an investment bank decided to reduce the number of middle managers by 10 percent. This is an example of _____.

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Definitions:

Coordination

The organization of the different elements of a complex body or activity so as to enable them to work together effectively.

Departmentalization

The organizational process of dividing a business into distinct departments, each focused on a specific operational area.

Organizational Growth

The process through which a business expands its size, scope, or capabilities, often measured in terms of increased output, sales, or market share.

Entrepreneur

An individual who starts and runs a business, taking on financial risks with the aim of making a profit.

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