Identify and give the basic characteristics of each of the following specialized types of corporations
a. Professional corporations
b. Public corporations
c. Nonprofit corporations
a . Used by doctors, dentists, lawyers, accountants, or other duly licensed professionals and formed much the same as ordinary business corporations.
b. Formed to administer a unit of government (cities, towns) or created by the government to conduct public business (TVA, postal service).
c. Usually private corporations, operate not for profit, dividends not paid, follow corporation statutes (state), individual members not personally liable. These corporations may make a profit, but it may not be distributed to its members, directors, or officers; the profit must be used for the charitable, educational, or scientific purposes for which the corporations were formed.
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Ford Motor Co. has separate divisions for passenger cars, for large trucks, and for farm products. Ford is an example of an organization with
A. geographic divisions. B. customer divisions. C. matrix partitions. D. a decentralized management structure. E. a global corporate culture.
Teachers Credit Union has decided that tellers must rotate through a new weekend shift on Saturday afternoons because several of its financial competitors have recently begun to offer additional hours to customers. Teachers Credit Union is implementing a(n) ______ change.
A. radically innovative B. reactive C. adaptive D. proactive E. innovative
________ promote respect for past tradition and for fulfilling social obligations in the present.
A. Short-term orientations B. Capitalist orientations C. Masculine cultures D. Individual orientations E. Feminine cultures
Logistics and other processes are managed using sophisticated and integrated ________.
A. total quality management strategies B. partner relationships management strategies C. integrated contractual systems D. vertical marketing systems E. enterprise resource planning systems