The Limitations Faced by Firms in Terms of Resources and Product

question 104

Multiple Choice

The limitations faced by firms in terms of resources and product demand are called:

• A) exceptions.
• B) advantages.
• C) constraints.
• D) cost enhancers.
• E) contribution factors.

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Definitions:

Departmentalization

A method of dividing an organization into different departments, which allows greater specialization and efficiency.

Matrix Structures

Describes an organizational structure where employees report to multiple managers, such as a project manager and a functional manager, aiming to improve flexibility and innovation.

Technical Specialists

Professionals with advanced skills and knowledge in a specific technical area, contributing expertise to support organizational goals and processes.

Marketable Products

Products that can easily find buyers in the market due to their perceived value, utility, quality, or brand appeal.