The Oldest and Largest of All Financial Institutions Are

question 2

Multiple Choice

The oldest and largest of all financial institutions are

• A) commercial banks.
• B) credit unions.
• C) savings & loans.
• D) insurance companies.
• E) thrift institutions.

---

Definitions:

Divisionalized Form

This organizational structure divides an entity into semi-autonomous units or divisions, each responsible for their own operations, products, or services.

Machine Bureaucracy

A type of organizational structure characterized by a high degree of standardization and formalization, clear hierarchical levels of authority, and a focus on rules and regulations for management and control.

Span of Control

The number of subordinates directly supervised by a manager, indicating the breadth of management's control.

Hierarchy of Authority

A structured order of positions within an organization, where each level has specific powers and responsibilities over the levels below.