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Тестовые задания

A functional organization is ___, but there are two standard criticisms

A good remedy for this problem ___ matrix management, which allows people from the traditional functional departments of production, finance, marketing, sales, etc. to work together in teams

A limited company has limited ___ and this is indicated by the letters ltd after its name

A lot of medium-___ companies in manufacturing and retailing are of this type

A lot of people in an organization have colleagues who help ___: for example, there might be an Assistant to the Marketing Manager

A private company is controlled by a ___ of Directors elected by the shareholders – one share, one vote

A problem of hierarchies ___ that people at lower levels are unable to make important decisions, but have to pass on responsibility to their boss

A product manager with an idea might be able to deal directly with managers responsible for a certain market ___. and for a geographical region, as well as the managers responsible for the traditional functions of finance, sales and production

And another possibility is to have wholly autonomous, temporary groups or ___ that are responsible for an entire project, and are split up as soon as it is successfully completed

And there may also be staff positions ___ are not integrated into the hierarchy

And this is one ___ of keeping authority at lower levels, but it is not necessarily a very efficient one

Another idea is decentralization: the separation ___. the organization into competing autonomous divisions

But one solution to this is matrix management, in ___. people report to more than one superior

By that time you’ll be gone and someone ___ will have to handle the problems

Choose the right preposition: ... the car business, the challenger actually advertises this fact: for many years Avis used the slogan ‘We’re number two. We try harder.’

Choose the right preposition: ...that business their assets were worth more than the companies’ market value

Choose the right preposition: Also, one indication that the people who warn against takeovers might be right is the existence ...leveraged buyouts

Choose the right preposition: Any company will lose its investment if a raider tries to break it up as soon ...its share price falls below expectations

Choose the right preposition: But... the other hand, the permanent threat of a takeover or a buyout is clearly a disincentive to long-term capital investment

Choose the right preposition: Challengers can either attempt to attack the leader, or to increase their market share ... attacking various market followers

Choose the right preposition: Disputes and grievances are often dealt with by joint consultative committees (to compose) of representatives from management and workers

Choose the right preposition: If the product does not have a ‘unique selling proposition’ there is no reason ... anyone to buy it

Choose the right preposition: In that time a big wave of takeovers in the US created conglomerates – collections ... unrelated businesses combined into a single corporate structure

Choose the right preposition: It's clear that the majority of companies ... any industry are merely market followers which present no threat to the leader

Choose the right preposition: Lazy companies that fail to do this will be taken over ... raiders who will use assets more efficiently, cut costs, and increase shareholder value

Choose the right preposition: Small companies are generally flexible and can quickly respond to market conditions, but their narrow range ...customers causes problematic fluctuations in turnover and profit

Choose the right preposition: Some market followers concentrate on market segmentation: finding a profitable niche in the market that is not satisfied by other goods or services, and that offers growth potential or gives the company a differential advantage because ... its specific competencies

Choose the right preposition: Such companies might have been more efficient if liberated ... central management

Choose the right preposition: Such managements have learnt a lesson ___ the experience of an American company which lost control to its work-force through the issue of shares with voting rights as bonuses, where the numbers of shares subsequently held by workers exceeded those held by the original owners

Choose the right preposition: That theory argues that stock markets are efficient, meaning that all relevant information about companies is built ... their share prices

Choose the right preposition: The market could understand data concerning companies’ earnings, but it was highly inefficient ...valuing assets, including land, buildings and pension funds

Choose the right preposition: The perfect targets for such buyouts were companies with huge cash reserves that enabled the buyer to pay the interest ...the debt, or companies with successful subsidiaries that could be sold to repay the principal, or companies in fields that are not sensitive to a recession, such as food and tobacco

Choose the right preposition: Their supporters argue that the permanent threat ... takeovers is a challenge to company managers

Choose the right preposition: Then he created a huge and liquid market ... up to 300 billion dollars

Choose the right preposition: Then later it became clear that many ... these conglomerates consisted of too many companies and not enough synergy

Choose the right preposition: There is often also a distinct market challenger, ... the second largest market share

Choose the right preposition: There was little risk ... making a loss with a buyout, as the debts incurred were guaranteed by the companies’ assets

Choose the right preposition: They are vulnerable ... a recession when, largely for psychological reasons, distributors, retailers and customers all prefer to buy from big well-known suppliers

Choose the right preposition: This is the case in local and central government and ___ the publicly owned industries. Such unionisation brings some benefits and some disadvantages to the organisation

Choose the right preposition: We believe that a market follower which does not establish its own niche is ... a vulnerable position

Choose the right preposition: perhaps membership of trade unions is no longer confined ___ workers in production, but extends to cover office workers, computer staff and even supervisors and managers

Choose the right preposition:After the recession time there were many large companies ... the US stock market with good earnings but low stock prices

Choose two possible answers: A major ___, governing the company is the articles of association

Choose two possible answers: And the short forms – ’Ltd’ and ‘plc’ – are ___

Choose two possible answers: Another rule is that a public ___ must end its name with the words ‘public limited company’

Choose two possible answers: Any company is ___ a legal person but, like a human being, it must have a name

Choose two possible answers: As soon as you ___. a joint-stock company, you need to prepare its Memorandum of Association, which must contain the following clauses

Choose two possible answers: In the document this clause ___ the things which the company can do

Choose two possible answers: It's clear that the actual address ___ be changed by an ordinary resolution of the members. This requires a 51 per cent majority

Choose two possible answers: It's the system that the articles together with the memorandum ___registered are a contract which binds the company and its members as if signed and sealed by each member

Choose two possible answers: It's true that there is only a statement that the registered office is ___ in England

Choose two possible answers: Obviously this clause simply ___ that the liability of the membership is limited

Choose two possible answers: Presumably this clause must ___ the amount of the company’s authorised capital and its division into fixed nominal value

Choose two possible answers: So it contains the shareholders’ rights and the amount of shares; ___ and procedures on general meeting and the list of the directors and their rights and duties

Choose two possible answers: So, a joint stock company has its own assets and ___ its own debts. The liability of the shareholders is limited to their investment

Choose two possible answers: So, you can ___groups and end up not knowing anyone

Choose two possible answers: The commission is appointed by the shareholders at the general meeting, but if the winding-up is compulsory then a court, in ___ cases an arbitration, must appoint this committee to solve the problem

Choose two possible answers: The company itself has rights and powers separate and different from those of the natural or legal ___ who compose it and are its shareholders

Choose two possible answers: The rule is that a private ___, whether limited by shares or guarantee, must end its name with the word ‘limited’

Choose two possible answers: Then ___a liquidation committee is formed to regulate the process of winding up

Choose two possible answers: There is an association ___ which states that the subscribers wish to be formed into a company and that they agree to take the shares opposite their names

Choose two possible answers: They suppose it is important to choose the legal form that will enable your business to ___, while taking into consideration the activities to be carried on

Choose two possible answers: To choose the legal structure of the business is a ___ step in the decisions you will have to make

Choose two possible answers: Today the most popular form of business is a joint-stock ___, also called a company or corporation, a joint stock company is a “legal person”

Choose two possible answers: We ___ why they are there, because they’ve had two bosses in six months, and their job has changed twice

Choose two possible answers: We don’t hear people who are ___ happy to be at Apple any more

Choose two possible answers: We know the actual address is not ___ but, as we have seen, it is filed with the Registrar when applying for registration

Choose two possible answers: We think there are two steps to be ___ before starting your business

Choose two possible answers: When a joint-stock company ___ bankrupt and can not pay out its debts, then either the shareholders or the creditors are entitles to sell it out

Choose two possible answers: Your ___ or accountant can help you make the right choice

Choose two possible answers: and there are also stated different questions ___ the regulation of the company

Choose two possible answers: it means your ___will affect daily operations of the business, the taxes to be paid and the degree of liability of the entrepreneur and of any partners he may have

Choose two possible answers: when it ___ into a transaction which is not included in the clause, that transaction will at common law be ultra vires (that is, beyond its powers) and void (that is, of no effect)

Chose three possible answers: A strong boss is likely to dominate the board of directors ___ his management team

Chose three possible answers: As the chief executive he ___ a link between the board and his fellow managers, and to him falls the responsibility for seeing that management carries out the policies and decisions of the board

Chose three possible answers: He does this through the process of delegation and through the reporting and control systems ___ to monitor company performance

Chose three possible answers: He interprets and puts into ___, through his management team, the decisions taken at board level, and can follow them through down the organization chain

Chose three possible answers: He is involved in the ___ management work involved in implementing the board’s wishes

Chose three possible answers: He may be financially interested in ___ company with which a contract is being considered

Chose three possible answers: He may be in a ___ position to bring these problems to the attention of the board, where necessary, for their advice and possible action

Chose three possible answers: Impartiality on the part of a director is difficult because he may have a personal interest in a ___ that has come up for discussion or action

Chose three possible answers: In order to achieve these ___ the board has to formulate a policy which it considers will best serve to attain its goals

Chose three possible answers: In that case the directors of a company are elected by the owners of the enterprise and may act only as a committee, known as a board, and not .

Chose three possible answers: In this ___, because of his additional function as chief executive, his views at board meetings are looked upon with great respect, and he can command considerable authority

Chose three possible answers: In this case, as a director he partakes in the activities of the ___ - the formulation of policy, decisions on capital expenditure and so on

Chose three possible answers: It becomes apparent that Agreeing objectives and formulating policy are ___ the most onerous of the domestic responsibilities of directors

Chose three possible answers: It is self-evident that ___ must be fairly fixed in nature while policy is subject to easier modification

Chose three possible answers: It is usually required that the director concerned should declare his interest and refrain from joining in any ___ of the matter and from voting

Chose three possible answers: It must be ___ that there is a trustee relationship between the directors and the shareholders

Chose three possible answers: So, the board is responsible for ensuring that the company ___ according to the law

Chose three possible answers: Such rights are of special ___ in the case of a projected takeover or merger

Chose three possible answers: That gives the shareholders the ___ to express their confidence in the retiring directors by re-electing them, or to show their dissatisfaction with the performance of the board by electing new directors

Chose three possible answers: The duties and responsibilities of the board of directors fall into two general ___, legal and domestic

Chose three possible answers: The responsibilities of the directors are most ___ in the running of the company

Chose three possible answers: Their tenure of office is as ___ in the articles, which ensure that at regular intervals a stated proportion of the board must resign and offer themselves for re-election at the next annual general meeting

Chose three possible answers: Then he has a dual ___, that of director on the board and that of chief executive

Chose three possible answers: They have a right to expect the board to act ___ in the interests of the members, and the company is entitled to the unbiased advice of each director on any matter of concern to the company

Chose three possible answers: Thus the memorandum and the articles of association ___ the powers and the proceedings of a company

Chose three possible answers: We see that in ___ the board acts as trustee for the funds subscribed by the members, and for the proper application of those funds

Chose three possible answers: ___ chief executive he is made aware of the day-to-day problems and requirements of the company in all significant areas such as capital requirements, staffing, liquidity and so on

Companies that cannot be divided ___ autonomous divisions with their own markets can simulate decentralization, setting up divisions that deal with each other using internally determined transfer prices

Connection between divisions can be improved by the introduction of matrix management or ___.

Correspond the left and right parts

For a large organization manufacturing a range of products, having a single production department is ___. inefficient

If people open small ___, or work for themselves as plumbers, decorators and so on, they are usually sole proprietors

If you do like your job at Apple, watch ___

In their well-known book In Search of Excellence, they insist on the necessity of pushing authority and autonomy down the ___, but they argue that one element – probably the product – must have priority; four-dimensional matrices are far too complex

Instead of ___ all fired up about something, they go through one or two reorgs and get disorientated

It can be possible for anyone ___ succeeds in buying 51% of the shares to gain control of a PLC

It is ___ to start this type of business, but it can be difficult to compete with large firms, and difficult to raise money for expansion

It is distributed to the shareholders in proportion to the number of . ___they own

It is not important to ___ the accounts and there are no special legal requirements except that the name of the business must be registered if it is different from the owner’s name

It means, that Apple still ___ the bright young people

It might be internally divided into functional ___

Just like sole proprietors, ___ have unlimited liability and there are no special legal requirements. Professional people such as doctors, accountants and solicitors often form partnerships

Like many private limited companies, plcs have limited liability, must ___ a Memorandum of Association, publish their accounts and are subject to many legal requirements as set out in the Companies Act, 1985

Limited ___ have at least two but usually not more than fifty members who provide the capital which is divided into shares

Most large companies are decentralized, following the ___ of Alfred Sloan, who divided General Motors into separate operating divisions in 1920

Most large manufacturing organizations have a functional ___, including (among others) production, finance, marketing, sales, and personnel or staff departments

Most organizations are hierarchical, with a number of levels and a line of command running from the top to the ___., so hierarchies should be avoided because they make decision-making slow and difficult

Often a private limited company ___ a Public limited company, which must put the letters plc after its name

One of the first ___.. to be decided on is the method or “basis” of accounting

Organizational systems include matrix management and teams, both of which combine people from different functions and keep decision-making at lower ___

Part of the profit ___ is not re-invested in the company is paid out to shareholders as a dividend

People are usually more concerned with the success of their department than that of the company, ___ there are permanent battles between, for example, finance and marketing, or marketing and production, which have incompatible goals

Put the verb in brackets in the right form: A lot of market followers (to concentrate) on market segmentation: finding a profitable niche in the market that is not satisfied by other goods or services, and that offers growth potential or gives the company a differential advantage because of its specific competencies

Put the verb in brackets in the right form: After the recession there(to be) many large companies on the US stock market with good earnings but low stock prices

Put the verb in brackets in the right form: And it is also essential that the reports and recommendations made by these joint consultative committees are seen to be (to give) due weight by management

Put the verb in brackets in the right form: Because the trade union movement is historically directly linked in Britain with the Labour Party there has (to be) inevitably concern about the amount of influence and interference in Government that might occur

Put the verb in brackets in the right form: Buyouts are almost unknown in these two countries, where business (to tend) to concentrate on long-term goals rather than seek instant stock market profits

Put the verb in brackets in the right form: Financial theory argues that stock markets are efficient, (to mean) that all relevant information about companies is built into their share prices

Put the verb in brackets in the right form: For many markets there (to be) a definite market leader: the firm with the largest market share

Put the verb in brackets in the right form: Frequently there is also a market challenger, with the second-largest market share, which (can) attempt to increase its market share by attacking either the leader or some market followers

Put the verb in brackets in the right form: He was later arrested and charged with 98 different felonies, (to include) a lot of insider dealing, and Drexel Burnham Lambert went bankrupt in 1990

Put the verb in brackets in the right form: In modern business there (to be) a leader that strongly influences other firms in the introduction of new products, price changes, promotions, and so on

Put the verb in brackets in the right form: In most cases the majority of companies in any industry are merely market followers which (to present) no threat to the leader

Put the verb in brackets in the right form: In some markets there (to be) often also a distinct market challenger, with the second largest market share

Put the verb in brackets in the right form: In that peroid the power of the trade unions to (grow) considerably and the influence of organized labour, as it is called, was evident in all issues concerning worker-management relations

Put the verb in brackets in the right form: Industrial relations are concerned with the relations between management and production workers and concentrate very largely upon the conditions of service, the (to work) environment and wages

Put the verb in brackets in the right form: It is a very wide topic sometimes (to see) as separate from personnel management, but nevertheless within the broad compass of the personnel function

Put the verb in brackets in the right form: It is assumed that shares will have voting rights, but some managements may (to view) this with apprehension and in some cases shares issued to employees have no voting rights so that control remains firmly in the hands of the existing shareholders and management

Put the verb in brackets in the right form: It is often the first company to (to have) entered the field, or at least the first to have succeeded in it

Put the verb in brackets in the right form: It's true that The first company in a particular market nearly always becomes the market leader, a position it will (to try) to keep by regularly attacking distinct market challengers and followers

Put the verb in brackets in the right form: It's well-known that in the 1960s, a big wave of takeovers in the US (to create) conglomerates – collections of unrelated businesses combined into a single corporate structure

Put the verb in brackets in the right form: Japanese managers and financiers, for example, seem to consider companies as places where people work, rather than as assets to be bought and (to sell)

Put the verb in brackets in the right form: Later it (to become, past simple) clear that many of these conglomerates consisted of too many companies and not enough synergy

Put the verb in brackets in the right form: Lay-offs in Japan (to be) instead a cause for shame for which managers are expected to apologize

Put the verb in brackets in the right form: Lazy companies that fail to do this will be (to take) over by raiders who will use assets more efficiently, cut costs, and increase shareholder value

Put the verb in brackets in the right form: Legislation was passed, some to (strengthen) and some to mitigate the strength of union power which, while it might be beneficial to workers generally, was seen to be damaging to the economy as a whole

Put the verb in brackets in the right form: Logically market followers often concentrate on profitable niche products that (to be) in some way differentiated from the products of larger companies

Put the verb in brackets in the right form: Many followers can either concentrate on small market segments or niches, or follow the safer strategy of (to imitate) the leader’s products

Put the verb in brackets in the right form: Often there is a definite market leader, with the largest market share, which frequently (to help) other firms to introduce new products

Put the verb in brackets in the right form: Once in a while market challengers can either (to attempt) to attack the leader, or to increase their market share by attacking various market followers

Put the verb in brackets in the right form: Opposite to a common belief, wholly dominating a market, or (to have) a monopoly, is seldom an advantage: Sometimes competitors expand markets and find new uses and users for products, which enriches everyone in the field, but the market leader more than its competitors

Put the verb in brackets in the right form: Perhaps, one indication that the people who warn against takeovers might (to be) right is the existence of leveraged buyouts

Put the verb in brackets in the right form: Raiders (to be) able to borrow money, buy badly-managed, inefficient and underpriced corporations, and then restructure them, split them up, and resell them at a profit

Put the verb in brackets in the right form: Selling off the assets of poorly (to perform) or under-valued companies proved to be highly lucrative

Put the verb in brackets in the right form: Several solutions have been successfully (to apply) in practice

Put the verb in brackets in the right form: Small companies are generally flexible and can quickly respond to market conditions, but their narrow range of customers (to cause) problematic fluctuations in turnover and profit

Put the verb in brackets in the right form: Some individual companies (may) have been more efficient if liberated from central management

Put the verb in brackets in the right form: Some of the money for LBOs was provided by the American investment bank Drexel Burnham Lambert, where Michael Millken was able to convince investors that the high returns on debt (to issue) by risky enterprises more than compensated for their riskiness, as the rate of default was lower than might be expected

Put the verb in brackets in the right form: Some raiders in the 1980s (to discover) that this was quite simply untrue

Put the verb in brackets in the right form: Sometimes there is also a market challenger, which wants to replace the leader, and various market followers, which (to seek) out particular niches that do not interest the leader

Put the verb in brackets in the right form: Such businesses that are not undervalued (to be) at little risk

Put the verb in brackets in the right form: Takeovers (to use) borrowed money are called ‘leveraged buyouts’ or ‘LBOs’. Leverage means having a large proportion of debt compared to equity capital

Put the verb in brackets in the right form: The acquisition of shares by the workers poses a problem, especially as they can, if they work for a public company, purchase them through the stock market if they really desire to (become) co-owners

Put the verb in brackets in the right form: The best targets for such buyouts were companies with huge cash reserves that (to enable) the buyer to pay the interest on the debt, or companies with successful subsidiaries that could be sold to repay the principal, or companies in fields that are not sensitive to a recession, such as food and tobacco

Put the verb in brackets in the right form: The first idea is to offer shares to workers at attractive prices and the second idea to (award) shares as bonus payments

Put the verb in brackets in the right form: The idea of a manager (to restructure) a company, laying off a large number of workers, and getting a huge pay rise (as frequently happens in Britain and the US), is unthinkable

Put the verb in brackets in the right form: The market could understand data concerning companies’ earnings, but it (to be) highly inefficient in valuing assets, including land, buildings and pension funds

Put the verb in brackets in the right form: The market leader is frequently able to (lead) other firms in the introduction of new products, in price changes, in the level or intensity of promotions, and so on

Put the verb in brackets in the right form: The opportunity to share in the profits of their company is (to consider) to courage loyalty and a co-operative attitude in the workers and to provide a positive incentive for greater productivity

Put the verb in brackets in the right form: The other followers merely (to imitate) the products of larger companies, but this is a dangerous strategy during recessions

Put the verb in brackets in the right form: The permanent threat of a takeover or a buyout is clearly a disincentive to long-term capital investment, as a company will (to lose) its investment if a raider tries to break it up as soon as its share price falls below expectations

Put the verb in brackets in the right form: The power (to hold) by a handful of skilled workers, for instance, to disrupt a whole manufacturing undertaking or local authority service, or to close down a whole industry, was a matter for great anxiety among employers and Government

Put the verb in brackets in the right form: The power of the trade unions in Britain was significantly (to curtail) by Government legislation, with the result that there is now less anxiety on the part of employers and Government over the strike threat

Put the verb in brackets in the right form: The threat usually (to force) companies to put capital to productive use

Put the verb in brackets in the right form: Their supporters argue that the permanent threat of takeovers is a challenge to company managers and directors to (do) their jobs better, and that well-run businesses that are not undervalued are at little risk

Put the verb in brackets in the right form: Then he (to create) a huge and liquid market of up to 300 billion dollars for ‘junk bonds’

Put the verb in brackets in the right form: Then they (to be) the concern exclusively of the trade unions and the employers’ organizations.

Put the verb in brackets in the right form: There was little risk of making a loss with a buyout, as the debts (to incure) were guaranteed by the companies’ assets

Put the verb in brackets in the right form: They are vulnerable in a recession when, largely for psychological reasons, distributors, retailers and customers all (to prefer) to buy from big well-known suppliers

Put the verb in brackets in the right form: They, however, (to seem) to be largely an American phenomenon

Put the verb in brackets in the right form: Today market leaders usually (to want) to increase their market share even further, or at least to protect their current market share

Put the verb in brackets in the right form: Usually level negotiations were (to carry) out which set the pattern for pay and conditions throughout a particular industry

Put the verb in brackets in the right form: Usually, a market can also be (to expand) by stimulating more usage: for example, many households no longer have only one radio or cassette player, but perhaps one in each room, one in the car, plus a Walkman or two

Put the verb in brackets in the right form: We believe one way to do this is to try to find ways to (increase) the size of the entire market

Put the verb in brackets in the right form: When a company is (to buy) by its existing managers, we talk of a management buyout or MBO

Put the verb in brackets in the right form: Workers are (to consider) to be at least as important as shareholders

Put the verb in brackets in the right form: in order to ensure that they are trusted by the workers, which is a major requirement for their success, they should (to be) composed of members from both sides who are knowledgeable and competent, whose integrity is unquestioned and whose judgement is dependable

Put the verb in brackets in the right form:A further device to endeavour to solve industrial disputes, (to set up) under the auspices of the British government, is the Advisory, Conciliation and Arbitration Service, known as ACAS

Put the verb in brackets in the right form:All this is because it was historically the custom in Britain for problems (to relate) to wages to be dealt with through collective bargaining

Put the verb in brackets in the right form:However, the basic pattern of procedure (to be) similar to joint consultation

Put the verb in brackets in the right form:It (to propose) that workers become actual shareholders in their companies, thus participating in the distribution of profits and having the power to vote at annual general meetings

Put the verb in brackets in the right form:It formed the basis for separate negotiations between individual employers and union representatives, and the results of these negotiations were further (to modify) by agreements at local plant levels

Put the verb in brackets in the right form:It is considered that the fact of profit-sharing (to be) sufficient participation and incentive

Put the verb in brackets in the right form:It may be (to raise) with such committees from safety to discipline, from welfare to training

Put the verb in brackets in the right form:It must be noted that no mention of pay (to have) been made in the range of matters subject to joint consultation

Put the verb in brackets in the right form:The Government is also now a large employer of direct labour which forces it to (be) a party to industrial relations negotiations

Put the verb in brackets in the right form:The attempts to (mediate) between the parties in dispute and is generally very successful

Put the verb in brackets in the right form:The first factor was greater direct intervention of Government into industrial negotiations through (to impose) pay policies and consequent legislation, and the second factor was the growth of the demand among trade unionists for comparable pay and conditions throughout the different plants of an organisation or throughout an industry

Put the verb in brackets in the right form:This was, in very many industries, (to deal) with through joint industrial councils (JICs), supported by the Government, consisting of equal numbers of members from employers’ associations and relevant trade unions

Put the verb in brackets in the right form:To reduce disruption through industrial disputes it was historically the practice to (resort) to joint consultation

Put the verb in brackets in the right form:Two parties to collective bargaining are the trade unions on the employees’ side and the employers’ trade associations on the other, although there (can) be variations

Separating functions ___ unlikely to encourage innovation

Several legal requirements exist, including the submission of a Memorandum of Association and other ___ to the Registrar of Companies when the company is set up, and the publication of annual accounts

Shareholders ___ the owners of the company and elect the Board of Directors who control it

So, each division had its ___ engineering, production and sales departments, made a different category of car (but with some overlap, to encourage internal competition), and was expected to make a profit

Some banks, ___. example, have established commercial, corporate, private banking, international and investment divisions

Some big organizations are often further divided into autonomous divisions, each with its ___ functional sections

Some business organizations have a hierarchy consisting of several levels ___ a clear line of command

Some businesses are organized as hierarchies, with a clear chain of command: a boss who has subordinates, who in turn have their own subordinates, and so ___

Some companies offering a large ___ of products or services might also be subdivided into autonomous divisions

Some organizations have a hierarchical or pyramidal structure, ___ one person or a group of people at the top, and an increasing number of people below them at each successive level

Some people in the organization know what decisions they are able to make, who their superior (or boss) is (to whom they report), and who ___ immediate subordinates are (to whom they can give instructions)

Stakes can be transferred only with the ___. of other shareholders and cannot be offered for sale to the general public

Such an organization might also be divided ___. functional departments, such as production, finance, marketing, sales and personnel

Such companies do not usually .. very large since they must obtain capital for expansion either from the profits or by borrowing from a bank

Such teams are often not very good for decision-making, and they run the risk of relational ___., unless they are small and have a lot of self-discipline

The French industrialist Henry Fayol organized his coal-mining business according to the functions that it had to carry ___. He is generally credited with inventing functional organization

The activities of most companies are too complicated ___ be organized in a single hierarchy

The best ___ of business organization is the sole trader or sole proprietor – one person who provides the capital (the money needed to start), has complete control of the business, keeps all the profit (or bears the loss), and has unlimited liability

The biggest difference between the old Apple, which was crazy, and the new Apple is anomie. People are ___

The continual reorganizations mean that nobody has long-___ responsibility for anything

The holder has ___ line authority, and is not integrated into the chain of command, unlike, for example, the Assistant Marketing Manager, who is number two in the marketing department.

The minus with reorgs is that they ___ to happen overnight, and many times they are handled by groups being demolished and people being told to go to Human Resources and find a new job at Apple

The production and marketing departments cannot take financial ___ without consulting the finance department

The quantity of ___ available for investing in a business can be increased by forming a partnership of at least two people, who all contribute capital to the business and share the profit in agreed proportions

The sense is at Apple that if you don’t like where you are, don’t worry, because three to six months from now everything is going to be different

The sense of anomie – alienation, disconnectedness – at Apple is ___

The share price ___ go up if the plc is making good profits and will go down if it is not doing so well

There exists a clear line or chain ___ command running down the pyramid

They are ‘one-man businesses’ but they can, of ___, employ others

They still require a definite leader, on whom their success probably ___.