Formal or Informal Relationships Between People in an Organization Are

question 61

Multiple Choice

Formal or informal relationships between people in an organization are known by which term?

• A) Work flow group
• B) Organizational culture
• C) Management team
• D) Organizational structure

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Definitions:

Competitive Advantage

Refers to the unique edge a business has over its competitors, allowing it to generate greater sales or margins and/or retain more customers.

Strategic Management Process

A comprehensive approach to planning, executing, monitoring, and adapting strategies that guide an organization in maintaining competitive advantage.

Strategy

A comprehensive plan guiding resource allocation to achieve long-term organization goals.

Lack of Participation Error

A situation in decision-making processes where not all relevant parties are included, which can lead to suboptimal outcomes and reduced acceptance of decisions.