Refer to the Scenario Below to Answer the Following Questions

question 131

Multiple Choice

Refer to the scenario below to answer the following questions.
Teams at Strato Engineering (Scenario)
Strato Engineering, a technology product company, recently organized Team 1 to develop the next generation of the company's model CVF-D. The team is composed of the product development manager, chief engineer, director of procurement, human resource director-technology, marketing research director, cost analysis director, operations director-production, and the four highest-dollar project vendors. The preliminary projection for the lifetime of the team to prototype production is expected to be two years due to the level of technology involved in the product. Team 2 has also been recently established to solve a problem with an adhesive used to attach a thin-foil material to a finished metal surface. There are three members in this team: installer, engineer, and sales representative for the adhesive manufacturer. They operate without a manager and no one in particular is the leader. It is anticipated that it will require about two days to solve the problem. Team 3 has been working together for 4 years implementing modifications to the company's current model CVF-C) It is composed of members in the areas of procurement, engineering and production, and also includes several vendors and Strato Engineering customers' procurement agents. None of the members of this team are at the same location. They use a sophisticated computer-aided design program to view the product onscreen in three-dimensional form at each location simultaneously. At the Oshawa facility, Team 4 has been formed to stamp a new part. It requires four members, and they rotate jobs every two hours. Before beginning the workday, they meet for about 10 minutes and discuss the work that needs to be completed that day.
-Team 4 is a __________ team.

• A) problem-solving
• B) self-managed
• C) virtual
• D) cross-functional
• E) dynamic

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Definitions:

Monopolistically Competitive

A market structure characterized by many sellers offering differentiated products, allowing for some degree of market power.

Costs and Benefits

Refers to the analysis or evaluation of the negative and positive effects or outcomes of a decision, action, or policy.

Monopolistic Competition

A market structure characterized by many producers selling products that are similar but not identical, allowing for competition.

Industry Entry and Exit

The process by which new competitors enter and existing firms exit a market or industry, often influenced by barriers to entry, market competition, and profitability.