A Committee of Managers from Different Functions or Divisions Who

question 51

Multiple Choice

A committee of managers from different functions or divisions who meet to solve a specific, mutual problem is called:

• A) Self-managed team
• B) Virtual team
• C) Fundamental team
• D) Task force
• E) Product team structure

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Definitions:

Market

A conceptual or physical place where buyers and sellers convene to exchange goods, services, and information.

Economic Profit

The discrepancy between overall earnings and the aggregate of explicit and implicit expenditures.

Dynamic Change

Dynamic change refers to the continuous and possibly unpredictable changes in conditions, situations, or systems over time.

X-Inefficiency

Occurs when a firm operates at higher costs than necessary, often due to lack of competitive pressure or managerial inefficiency.