The Idea That Top Management Should Design an Organization with as Few

question 54

True/False

The idea that top management should design an organization with as few levels of authority as is needed to conduct the business of the organization in an efficient and effective manner is known as the minimum chain of command.

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Definitions:

Oceangoing Vessel

A ship designed and equipped to travel across oceans.

Merchant's Firm Offer

A legal concept in commercial law where a merchant offers to sell goods in a written and signed promise that the offer will remain open and cannot be revoked for a certain period of time.

Lease

A contractual agreement by which one party conveys property, land, or services to another for a specified time, usually in return for a periodic payment.

Reasonable Price

A price that is fair and acceptable based on the context of the market, product, or service being provided.