Sullivan and Taylor Want to Form a Corporation to Provide

question 16

Multiple Choice

Sullivan and Taylor want to form a corporation to provide catering services.The first step in the incorporation procedure is to

• A)file the articles of incorporation.
• B)hold the first organizational meeting.
• C)secure a corporate name.
• D)select a state in which to incorporate.

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Definitions:

Organic Designs

Organizational structures that emphasize adaptability, with teams or individuals having wide-ranging tasks and roles that evolve based on the project needs and external environment.

Decentralized Authority

A system where decision-making powers are distributed throughout various levels in an organization, rather than being concentrated at a single point.

Flat Structures

An organizational structure with few or no levels of middle management between staff and executives, promoting more direct communication.

Reducing Overhead Costs

Strategies aimed at decreasing the expenses not directly tied to the production of goods or services, such as rent, utilities, and administrative costs.