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End of Chapter Video Quiz
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1
The framework of task and authority relationships in a company that coordinates people in pursuit of a common goal is the firm's:
A)organizational chart
B)organizational hierarchy
C)organizational structure
D)organizational function
E)organizational culture
2
The tasks specific kinds of value creation operations and processes necessary to convert inputs into finished goods and services are:
A)traditional activities
B)hierarchical activities
C)functional activities
D)matrix activities
E)cultural activities
3
The process in which people agree to combine and pool skills and talents to create more valuable products is called:
A)teamwork
B)entrepreneurship
C)capitalism
D)unionism
E)human capital
4
A situation in which one company controls the supply of a product and can charge an artificially high price for it is a:
A)oligopoly
B)hierarchy
C)monopoly
D)all of the above
E)none of the above
5
A business practice in which investors are allowed to purchase the right to own and operate a store using a company's name and business model is known as:
A)franchising
B)sub-contracting
C)outsourcing
D)joint ventures
E)partnerships





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