Global Competition, Accelerated Product Development by Competitors, and Increased Demands

question 39

Multiple Choice

Global competition, accelerated product development by competitors, and increased demands by customers for better service have encouraged organizations to become more __________.

• A) organic
• B) mechanistic
• C) centralized
• D) formalized
• E) bureaucratic

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Definitions:

Royalty Agreements

Contracts specifying the terms under which royalties will be paid by one party to another, usually for the use of intellectual property, natural resources, or products.

Customer Base

The group of customers who repeatedly purchase the products or services of a business, forming the core of the company's sales revenue.

Goodwill

An intangible asset that represents the excess value of a company over its net asset value, often arising from factors such as reputation, brand, or customer loyalty.

Intangible Assets

Assets that do not have physical substance but are identifiable non-monetary assets without physical substance, used in the production or supply of goods or services, for rental to others, or for administrative purposes.