A Characteristic of Service Organizations Is That

question 18

Multiple Choice

A characteristic of service organizations is that

• A) labour is intensive.
• B) output is easy to define.
• C) major inputs and outputs can be stored.
• D) plant and equipment costs are high in proportion to labour costs.

Understand shareholder rights, including stock transferability and liability.

Recognize the corporate responsibility and liability in criminal activities, torts, and ultra vires acts.

Differentiate between various types of corporations (e.g., S corporation, closely held corporations).

Understand key corporate governance concepts including the fiduciary duties of directors and officers.

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Definitions:

Hofstede's Theory

A framework for understanding the cultural differences among countries, focusing on dimensions such as individualism vs. collectivism and power distance.

National Cultures

The shared beliefs, values, norms, and practices that are specific to the inhabitants of a particular country.

Group-Level Processes

Dynamics and mechanisms that occur within a group setting, influencing the behavior and outcomes of the group as a whole.

Dynamic

Characterized by constant change, activity, or progress; pertaining to the forces producing motion and change.