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Foundations of Business (MindTap C...

6th Edition
William M. Pride + 2 others
ISBN: 9781337386920

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BuyFindarrow_forward

Foundations of Business (MindTap C...

6th Edition
William M. Pride + 2 others
ISBN: 9781337386920
Textbook Problem

Identify the major considerations when organizing a business.

Summary Introduction

To determine: The major considerations when organizing a business.

Introduction: The term business is defined as the planned exertion of people to manufacture and trade, for revenues, the goods and services that fulfill the requirements of the people. A business must be designed in such a way that it is managed efficiently, gratify the needs and should make profits.

Explanation

The major considerations when organizing a business are as follows:

  • Chain of directive: Building up the organization's hierarchy of leadership by assigning the situations with coordinate authority and those that are strengthen positions.
  • Duration of management: Deciding the quantity of subordinates who will answer to every manager...

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