Management Is Needed in All Types and Sizes of Organizations

question 80

Multiple Choice

Management is needed in all types and sizes of organizations, at all organizational levels and in all organizational work areas, and in all organizations, no matter where they are located. This principle is known as the ________.

• A) impartiality of management
• B) neutrality of management
• C) universality of management
• D) reality of management

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Definitions:

Association

An organized group of people who share a common purpose, interest, or activity.

Voluntary

Performed, decided upon, or proceeding from an individual's own choice, without being forced or required to do so.

Consensual

Agreements or actions made with the free and informed consent of all parties involved.

Equity

A system of justice that developed in England separate from the common law courts. Few states in the United States still maintain separate equity courts, though most apply equity principles and procedures when remedies derived from the equity courts are sought. A broader meaning denotes fairness and justice. In business organization law, the capital contributions of owners plus profits that have not been distributed to the owners; stated capital plus capital surplus plus earned surplus.