The Ability of Business Owners to Structure Life in the Way

question 58

Multiple Choice

The ability of business owners to structure life in the way that suits their needs best refers to

• A)flexibility rewards.
• B)family rewards.
• C)growth rewards.
• D)wealth rewards.

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Definitions:

Scientific Management

A theory of management that analyzes and synthesizes workflows to improve economic efficiency, especially labor productivity.

Bureaucratic Organization

A structured and formal organization where rules, hierarchical structure, and detailed procedures guide operations and decision-making.

Classical Management

A theory of management that emphasizes a structured organizational hierarchy, a clear division of labor, and reliance on formal policies and procedures.

Administrative Principles

A set of concepts and practices related to managing and organizing businesses, emphasizing structure, of authority, division of work, and coordination of operations.