INF 1505: CHAPTER 2 QUESTIONS AND ANSWERS LATEST UPDATE A+ GRADED
organization
a formal collection of people and other resources established to accomplish a set of goals
Primary goal of a for-profit organisation
To maximise shareholder value, measured by the price of company stock.
Non p...
organization
a formal collection of people and other resources established to accomplish a set of
goals
Primary goal of a for-profit organisation
To maximise shareholder value, measured by the price of company stock.
Non profit organization
An organisation whose main objective is not to make money, for example a charity.
Value chain
A series (chain) of activities that includes inbound logistics, warehouse and storage,
production, finished product storage, outbound logistics, marketing and sales, and
customer service.
Supply Chain Management (SCM)
planning and coordinating the movement of products along the supply chain, from the
raw materials to the final consumers
Customer Relationship Management (CRM)
a company-wide business strategy designed to optimize profitability, revenue, and
customer satisfaction by focusing on highly defined and precise customer groups
Organisational structure
Refers to the levels of management and division of responsibilities within an
organisation
Traditional Organizational Structure (Hierarchical structure)
an organizational structure in which the hierarchy of decision making and authority flows
from the strategic management at the top down to operational management and non-
management employees
line positions
Jobs that are directly involved in a company's primary revenue-generating operating
activities.
staff positions
Positions that are supportive in nature and have only indirect responsibility for an
organization's basic objectives
Flat Organizational Structure
An organizational structure that has only a few levels of management and emphasizes
decentralization
Empowerment
giving employees the authority to correct a problem without first checking with
management
project organizational structure
a structure centered on major products or services
team organizational structure
a structure centered on work teams or groups
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