ORG&MGT CHAPTER 1 QUIZ

A characteristic of an organization whereas it means by systematically dividing a complex task into a specialized jobs, an organization can efficiently use its human resources.

• Division of Labor

• Coordination of Effort

• Common Goal

• Hierarchy of Authority

A classification of an organization that have underlying purpose to make profit in a socially accepted manner

• Mutual Benefit

• Business

• Non-profit

• Commonweal

A form of business ownership owned by two or more persons.

• Partnership

• Sole proprietorship

• Corporation

• Cooperative

This is the "collection of persons working together for a common purpose"

• Operations

• Marketing

• Business

• Organization

A characteristic of an organization whereas if anything is to be accomplished through formal collective effort, someone should be given a designation to lead and to see that the intended goals are carried out effectively and efficiently.

• Division of Labor

• Coordination of Effort

• Common Goal

• Hierarchy of Authority

A characteristic of an organization whereas individuals join together and coordinate their mental and physical efforts, great and exciting things can be accomplished.

• Division of Labor

• Coordination of Effort

• Common Goal

• Hierarchy of Authority

A classification of an organization which focuses on how well they provide a specific service for some segment of society.

• Mutual Benefit

• Business

• Non-profit

• Commonweal

A form of business ownership which business organized as a separate legal entity and have an advantage that can easily raise additional funds by selling shares of stocks to the public.

• Partnership

• Sole proprietorship

• Corporation

• Cooperative

A classification of an organization where often as in the case of labor unions, or political parties, individuals join together strictly to pursue their own self-interest.

• Mutual Benefit

• Business

• Non-profit

• Commonweal

A kind of business which refers to the transfer or exchange of goods and services with the movement of goods from point of production to point of consumption.

• Service

• Industry

• Commerce