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Business Chapter 7

TermDefinition
Organizational Structure the formal, internal framework of a business that shows how it is managed and organized.
Functional Departments the main activities of business – finance, marketing, operations, human resource and research and development.
Hierarchy the number of levels in an organizational structure
Chain of command the line of authority through which instructions are passed in an organization.
Span of control the number of people directly supervised or managed by one person in an organization.
Directors Appointed or elected members of the BOD of a company who have the responsibility for determining and implementing the company’s policy.
Annual General Meeting a meeting for shareholders that limited companies must hold once every year.
Chief Executive Officer (CEO) the most senior manager responsible for the overall performance and success of a company.
Delayering a popular strategy used to remove one or more levels of hierarchy from the organizational structure
Advantages of Delayering
Created by: user-1995240
 

 



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