Explain the importance of organizational integration.
What will be an ideal response?
Answers will vary. To be effective, organizations must design and build linkage and coordination mechanisms. Integration is the process of coordinating the different parts of an organization. Effective integration helps keep the organization in a state of dynamic equilibrium, a condition in which all the parts of the organization are interrelated and balanced. A stronger device for integration is to develop a person or department designed to be an integrator. In most organizations, the integrator has a good deal of responsibility but not much authority. Such an individual must have the ability to get people together to resolve differences within the perspective of organizational goals. Please see the section "Key Organizational Design Processes" for more information.
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Joan contributes cash of $48,000, and Jamie contributes office equipment that cost $40,000 but is valued at $32,000 to the formation of a new partnership. The entry to record the investments in the partnership is:
A) Cash 48,000 Equipment 40,000Capital, Joan 48,000Capital, Jamie 40,000 B) Cash 48,000 Equipment 32,000Capital, Joan 48,000Capital, Jamie 32,000 C) Cash 48,000 Equipment 40,000Loss 8,000Capital, Joan 48,000Capital, Jamie 48,000 D) Cash 48,000 Equipment 40,000Capital, Joan 48,000Capital, Jamie 32,000Loss, Jamie 8,000
The 10-K report filed annually with the SEC is basically aimed toward which of the following groups?
a. Shareholders b. Professional financial analysts c. Management d. All of the above
Which budget is used to assesses managerial efficiency?
A) operational budget B) capital budget C) static budget D) flexible budget E) cash budget
Economies of scale refers to which of the following?
a. Seeking out customers that will purchase large quantities b. Purchasing and manufacturing product in high volume c. Mitigating risk by insurance d. Producing low volume product before higher volume product