*WGU D078 - Business Environment Applications I: Business Structures and Legal Environment

*WGU D078 - Business Environment Applications I:

Business Structures and Legal Environment 5.0 (1 review) Students also studied Terms in this set (83) Western Governors UniversityD 072 Save Test Prep - WGU - Principles of Man...105 terms C_BondePreview D196- Principles of Financial and Ma...206 terms shannon_turner16 Preview D467 WGU Exploring Data 152 terms devonharnamji Preview Operat 245 term rwd Organizational structureThe framework of an organization Factors that influence and direct the organizational structure

• Functions or departments
• Chain of Command
• Centralized or Decentralized decision making
• Level of formality

Four common organizational structures- Functional or Departmental Structure

• Divisional Structure
• Matrix Structure
• Team Structure

What influential factor helps define the division of work along functional or task-oriented lines as well as departmental Functions and Departments What influential factor establishes procedures for control, decision-making, and the hierarchy of reporting relationships Chain of Command centralized decision makingkey decisions are made by top level executives, such as the CEO decentralized decision makingimportant decisions are made by middle- and lower-level managers Influential factor that to creates and implements procedures, rules, and guidelines, as well as influencing or shaping the overall culture.Level of formality

Which organizational structure involves dividing employees into smaller groups by areas of specialty?Functional organizational structure Which organizational structure combines people to work on a mutually beneficial project or goal?Team organizational structure Which organizational structure is usually arranged by products or by geographical region with each division having its own resources and support functions?Divisional organizational structure Which organizational structure is one in which individuals are grouped by two different operational perspectives simultaneously—in this case, by function and region.Matrix organizational structure Which organizational theory focuses on the ability of managers to make adjustments as internal or external conditions change?Contingency theory Which organizational theory recognizes that a change in one area will impact other functional areas?Modern theory, takes interconnectedness of function into account. It recognizes that a single change can spread out to affect other aspects of the organization.Which organizational structure allows organizations to expand the business by organizing by geographic locations. Each unit is autonomous but controlled by central management.Divisional structure Which organizational structure is a hybrid between a "functional and product structure." It is understood to be helpful in uncertain, quick-changing environments and to improve communication across departments, thus achieving timely responses to dynamic customer problems.Matrix structure Which organizational character takes power away from the top levels of an organization and spreads it out to lower-level employees, and is associated with more decision-making among lower-level employees, more procedural fairness to employees, and more attractive job postings.Decentralize decision making What is advantage of a highly centralized structure? efficiency is improved as top people make decisions and set objectives for employees underneath them.A business would like to use an organizational theory that focuses on employee productivity.Which theory should be used by this business?Scientific management. This theory focuses on production and employee productivity.What type of goals are "written for a department." The objectives are at the bottom of the hierarchy and are shorter and "more specific" than strategic goals.Operational goals

Which ratio measures the operational efficiency of the business and how much profit is being produced per dollar sale?Return on Sales (ROS) Which organizational structure is organized into departments that focus on regions and are appropriate when there are a large number of products that require special attention.Divisional structure What type of management structure can impedes decision-making ability, as decision-making is made at the top. Lower-level management cannot make decisions rapidly?A rigidly hierarchical chain of command A private security company provides services in two locations that each represent a specific unit. Security personnel report to their immediate manager and a cross-functional leader.What type of organizational structure is being used by this business?Matrix structure Which model of organizational effectiveness improves the effectiveness of the "organization?" Goal attainment, is meeting the organizational goals A company groups its employees by the "functions or work processes" they perform.What is an advantage of this type of structure?Higher levels of productivity Which organizational structure includes grouping employees with complementary skills together to work on a project.Team structure What goals are derived from the "strategic planning" process and include improving organizational effectiveness through development of strategic objectives.Operative goals A business begins reorganizing "departments and revising job roles" to reduce inefficiencies.Which type of change is the organization undergoing?Structural "Outcome statements" that specify what the company wants to accomplish are?Goals ex. "Provide a safe working environment for our employees."

Six common business entities- Sole proprietorship

• General Partnership
• Limited Partnership
• Limited Liability Company (LLC)
• Limited Liability Partnership (LLP)
• Corporation

Which business entity offers no legal separation between the business and the owner?Sole proprietorship A business entity when two or more persons agree to share profits and losses in a joint business venture?General Partnership Business entity that provide limited liability to certain limited partners who agree to refrain from management?Limited Partnership A registered business entity whose owners are shielded from personal liability for business debts and can avoid double taxation Limited Liability Company (LLC) Business entity similar to an LLC but is designed for professional who do business together such as Doctors, Lawyers, Accountants Limited Liability Partnership (LLP) Large business entity that consist of shareholders, a board of directors, and corporate officers who manage the company Corporation This act forbids any type of workplace discrimination Title VII of the 1964 Civil Rights Act This act addresses working conditions, pay, and child labor Fair Labor Standards Act (FLSA) of 1938 This act promotes and upholds safety and health practices in the workplace Occupational Safety and Health Act (OSHA) of 1970 what prohibits a person from working in a competing business for a specific period of time noncompete clause This is a contract between an employer and an employee that states that the employee will net reveal the employer's trade secrets to future employers.Non-disclosure agreement protects original forms of expression such as writings, art, drawings, photographs, music, motion pictures, performances, and computer programs from being copied by others.copyright law A brand that has exclusive legal protection for both its brand name and its design Trademark