Define formal and informal work groups.

What will be an ideal response?


Informal work groups are formed voluntarily by employees of an organization. They develop from personal contacts and interactions among people. Groups of employees who lunch together regularly and office cliques are examples of informal work groups. Formal work groups or work teams are established by the management to carry out specific tasks. Formal groups may exist for a short or long period of time. A task force is an example of a formal group.

Business

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Constrained optimization refers to those limited resources not fully utilized by the product mix

Indicate whether the statement is true or false

Business

Suppose that Mexico is a small country and it imposes a tariff on imports. This results in

a. an improving terms of trade for Mexico. b. a worsening terms of trade for Mexico. c. no change in the terms of trade for Mexico. d. better protection from competition for Mexico.

Business

Which of the following is NOT a benefit of e-mail?

a. E-mail reaches people more quickly than letters or memorandums. b. E-mail can be easily discarded when the message does not have to be kept. c. E-mail relieves the recipient from playing "telephone tag." d. E-mail is private because it requires the use of a password to access it.

Business

If historical experience data are so widely available and so easy to obtain, why aren't they more widely used to set labor standards?

What will be an ideal response?

Business