The Process of Deciding How a Company Should Create, Use

question 4

Multiple Choice

The process of deciding how a company should create, use, and combine organizational structure, control systems, and culture to pursue a business model successfully is referred to as:

• A)organizational behavior.
• B)organizational norm.
• C)organizational design.
• D)organizational ecology.
• E)organizational density.

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Definitions:

Invisible Hand Concept

A term coined by Adam Smith describing the self-regulating nature of the marketplace, where individuals pursuing their self-interest unwittingly contribute to the economic wellbeing of society.

Economic Prosperity

A state where individuals and societies enjoy high standards of living, demonstrating growth in wealth and resources.

Competitive Market Prices

Prices determined by the supply and demand in a market where many buyers and sellers exist and no single entity controls the market price.

Market Prices

The actual selling price of goods and services in a marketplace, determined by supply and demand dynamics.