Organizations Can Move Towards a Team-Based Structure by Flattening the Hierarchy

question 85

True/False

Organizations can move towards a team-based structure by flattening the hierarchy, reducing formalization, and making extensive use of self-directed work teams.

Define and differentiate between various types of economies and work arrangements in a globalized world.

Identify the effects of globalization on production and labor markets.

Explain the function and importance of the Third Sector in the economy.

Comprehend the concepts of capitalism, socialism, and political systems in a global context.

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Definitions:

Accounts Payable

Money owed by a business to its suppliers shown as a liability on the company’s balance sheet.

Just-in-time

An inventory strategy companies use to increase efficiency and decrease waste by receiving goods only as they are needed in the production process, thereby reducing inventory costs.

Restrictive Policy

Measures taken by a government or financial institution to limit borrowing and spending in an attempt to curb inflation or stabilize the economy.

Neutral Policy

A stance or policy adopted by an organization or government that is neither supportive nor against a particular issue, aiming for a balanced approach.