An Informal Organization

question 74

Multiple Choice

An informal organization:

• A)Would not exist in a well-run firm.
• B)Is not practical or realistic in today's business system.
• C)Slows down business activities and reduces efficiency.
• D)Is not likely to be found in a decentralized organization.
• E)None of these is correct.

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Definitions:

Long Delivery Times

Long Delivery Times refer to the extended period it takes for a customer to receive a product or service after placing an order, often due to manufacturing or logistical complexities.

Credit Period

The amount of time allowed by a seller to a buyer to pay for the goods or services purchased on credit, usually described in days.

Highly Perishable

Describes goods or products that have a short shelf life and require immediate consumption, sale, or processing to avoid spoilage or loss of value.

High Cost Item

Products or services that require a significant amount of money to purchase or maintain, often reflecting quality or luxury status.