Chapter 12

Question 1

what is an organizational structure

Answer 1

the method in how work flows through an organization

Question 2

Collaboration

Answer 2

imply two or more people working towards a common goal

Question 3

GAAP

Answer 3

Generally Accepted Accounting Principles
accounting rules for preparing, presenting, and reporting financial statements so an organization and its investors can have a standard set of reports regarding a business’ well being

Question 4

core business functions

Answer 4

• accounting
• marketing
• human resource
• research and development
• production

Question 5

human resource departments

Answer 5

recruiting and hiring new employees, evaluating and managing personnel, tracking personnel data, administering payroll and pensions and sometimes providing advice to employees regarding work-related issues

Question 6

Marketing departments

Answer 6

focus on customers and have core responsibilities like advertising and branding a business’ products and services.

Question 7

4 P’s of Marketing

Answer 7

Products-the actual goods and services a business produces and how they relate to customer’s needs (warranties, guarantees, and customer support)

Place- how a product or service is delivered to a customer

Promotion- the advertisement of a business’ products and services, as well as promotion and publicity

Price- refers to what a product costs, or at least what a business is willing to exchange for their products

Question 8

Research and development (R&D) departments

Answer 8

take a creative and systematic approach to evolve a business’ original idea and devise new ones

Question 9

Production departments

Answer 9

-prepare these goods and services to be sold commercially
-focus their attention on the most efficient and cost effective way to produce goods and services to maximize profits

Question 10

Business collaboration

Answer 10

involves two or more people or departments working towards a common business goal.
facilitated by the exchange of data and information.

Question 11

Data and information exchange software

Answer 11

techniques can be categorized as electronic computing tools

Question 12

collaborative software and techniques

Answer 12

management tools

Question 13

Project Management Software

Answer 13

provides a business with a collaborative road map for organizing and managing resources to schedule a project from start to finish

Question 14

Knowledge Management Systems

Answer 14

collaborative systems that organize, create, and distribute a business’ collective knowledge

Question 15

3 types of formats for collaboration within a business

Answer 15

-functional
- divisional
- matrix

Question 16

functional

Answer 16

when in a business all departments have their own area grouped together (acct. one floor, finance another floor, etc)

pros- collaboration, productivity, and training are easier and faster

cons- communication and jealousy and morals can lost with other departments

Question 17

divisional

Answer 17

opposite of functional
pros- created accountability, creates transparency

cons- communication gets lose, translation is lost, cost more to operate, can cause jealousy from other groups

Question 18

Matrix

Answer 18

combination of both

pros- reliability, accountability

cons- costs a lot

Question 19

who has committed accounting fraud

Answer 19

ENRON

Question 20

difference between marketing and advertising

Answer 20

marketing is identifying the need of a product in a certain area while advertising is advertising the product in that area

Question 21

how do departments stay connected and collaborate?

Answer 21

emails, meetings, memos, powerpoints, etc