Which of the Following Statements Regarding Organizational Foundation Is Most

question 263

Multiple Choice

Which of the following statements regarding organizational foundation is most accurate?

• A)Organizational foundation is dynamic and fluid.It protects companies by ensuring that actions can be made quickly to respond to societal changes.
• B)An organizational foundation performs a mission similar to that of a union.It protects employee rights and provides legal, medical, or financial support for employees who are unable to provide for themselves.
• C)An organization's foundation evolves from the collective beliefs and goals of all its employees.Every employee has a voice in decision-making matters.
• D)An organization's foundation is its philosophical reason for being-why it exists-and rarely changes.
• E)An organization's foundation is the triad of the company, its product, and its customers.All three must be in sync in order for a company to succeed.

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Definitions:

Average Variable Costs

The cost that varies with the level of output, divided by the quantity of output produced, reflecting the variable expenses per unit.

Economic Profit

The difference between total revenue and the total costs of production, including opportunity costs not just explicit costs.

Long Run Equilibrium

A state in which all factors of production and costs are variable, and firms no longer have an incentive to enter or exit an industry, leading to a stable market condition.

Firm

A business organization that sells goods or services in order to make a profit.