Twice Each Year, a Major Car Parts Manufacturer Brings Together

question 27

Multiple Choice

Twice each year, a major car parts manufacturer brings together production and engineering specialists from its eight divisions to discuss ideas, solutions, and concerns.This helps to minimize the 'silos of knowledge' problem that exists in many organizations.This practice is primarily an example of:

• A)grafting.
• B)experimentation.
• C)knowledge sharing.
• D)documentation.
• E)organizational unlearning.

---

Definitions:

Few Firms

In markets characterized by few firms, also known as oligopolies, a small number of companies dominate the industry, leading to limited competition.

Prime Rate

The interest rate that banks charge their most creditworthy customers, often used as a benchmark in lending rates.

Covert Collusion

A secret agreement between firms to fix prices or divide the market to limit competition, which is illegal in many jurisdictions.

Oligopolist

A market participant in an oligopoly, a market structure with a small number of firms dominating the industry.