The External Environment Consists Of

question 71

Multiple Choice

The external environment consists of:

• A) The operating environment
• B) Managers
• C) Employees
• D) Owners

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Definitions:

Public and Private Organizations

Entities that operate in the public sphere, funded by government agencies, versus those in the private sector, owned by private individuals or corporations.

Small Organizations

Entities typically characterized by a limited number of employees, a specific niche market focus, or a restricted operational scale compared to larger corporations.

Henry Fayol

A French engineer and a key figure in the development of classical management theory, known for his 14 principles of management.

Authority

describes the power or right given to individuals or entities to make decisions, issue orders, and enforce obedience.