D078 2023 with verified questions and answers

Administrative Organizational theory that focuses on efficiency through management training and behavioral characteristics with the goal of improving workplace productivity Bureaucratic Organizational theory that focuses on creating rules and regulations to simplify complex procedures in societies and workplaces C-level Refers to high-level corporate positions in an organization, where the C stands for chief in positions such as chief executive officer (CEO), chief financial officer (CFO), chief operations officer (COO), and chief technology officer (CTO) Centralized Decision-making function lies with a central figure or group, such as the CEO or board of trustees Chain of command Hierarchy of control and decision making from superiors down through subordinates codify To arrange or organize laws in a systematic fashion Contingency or situational Organizational theory that emphasizes managers must have the ability to make adjustments and to adapt how they manage their organizations contingent upon changing environmental conditions Corporation a legal entity chartered by the state, with a separate and distinct existence from its owners. decentralized Decision-making function does not lie with a central figure or group, but with department managers and other key personnel Divisional Structure is most often found in consumer products companies, grouped by organizational function, such as product division (specific make/model of vehicle) or geographical division (northeast/southwest or North America/South America) doing business as Filing as a sole proprietorship under your own name or a fictitious name. ethics Moral principles that guide behavior and decisions Functional or departmental Structure most often found in manufacturing companies, based on departments and their functions, such as marketing, finance, production, sales, customer service, and so on Functions or departments Serve to define the division of work along task-oriented lines General partnership formed when two or more persons agree to share profits and losses in a joint business venture. goal approach model Strategy that focuses on an organization attaining its goals with respect to preferred levels of output and sees effectiveness with respect to its internal organizational objectives and performance intellectual property It is a creative work or invention to which the author or inventor has rights and may apply for a patent, copyright, or trademark. Level of formality How procedures, rules, and guidelines are implemented, the behavioral norms and expectations, and how it influences and facilitates the overall culture Liability is the risk and responsibility for business debts and other actions related to a business. Limited liability company (LLC) a hybrid form of business that provides limited liability to owners while being treated as a partnership for tax purposes. Limited liability partnership (LLP) is like the LLC, except it is designed for professionals who do business as partners. Limited partnership must be formed in compliance with state statutes that provide limited liability to certain limited partners who agree to refrain from management of the business. Matrix Structure most often found when combining two different forms of departments, such as functional and product, that have complementary strengths and weaknesses Modern Organizational theory that espouses the belief that changing one variable impacts many other variables, so adjusting and adapting to changes in the environment is essential to maintain equilibrium Neoclassical Organizational theory that emphasizes differences among people and social interactions with a goal of developing stronger relationships among coworkers noncompete also called a covenant not to compete or a restrictive covenant, is a clause often included in employment contracts requiring an employee to not enter into a similar profession in competition against the employer. nondisclosure also called a confidentiality agreement, is often included in a legal contract between at least two parties. It outlines confidential material, knowledge, or information that the parties need to share with one another. However, they may also need to restrict third parties from accessing the information. organization A body of people who have a particular purpose, such as to form a business, a society, or an association organizational effectiveness Efficiency with which an organization can meet its objectives, most often indicated by profitability, growth data, and customer satisfaction Ownership or control is the designation of who either owns or controls a business. Scientific management Organizational theory that analyzes workflows to improve efficiency, especially labor productivity in manufacturing industries, typically by focusing on employee selection, training, and testing Sole proprietorship is an unincorporated business owned by an individual. stakeholders Individuals or organizations who are recipients of an organization's legal and ethical obligations structure An arrangement of components within an organization that helps determine its mission and channel the behavior of its members Taxation the manner in which the business owner reports profits and losses on personal tax returns. Teams Structure most often found in high-tech companies as a newer type of organizational structure that includes a group of workers, with complementary skills, all working toward a common goal, such as a specific project