The 3 major functions are operating, financing and managing a business organisation
Answer:
The correct answer is option a.
Explanation:
Comparative advantage refers to the situation when an individual, firm or nation, can produce a good or service at a relatively lower opportunity cost than its competitors.
A producer that can produce a good at a lower opportunity cost is said to be specializing in the production of that good.
If a producer can produce a good at a relatively lower cost than any competitor, it implies that the producer has an absolute advantage in the production of that good.
Answer: B, Span of control
Explanation:
A manager's span of control refers to how many people report under them. If an employee can report directly to a manager then they are in that manager's span of control.
Spans of control should not be so large that they can lead to inefficiency. Modern organizational experts recommend a span of control between 5 - 15 subordinates.
Every organization should have managers so that information and decisions can be handled faster and to achieve diversification of labor which improves efficiency. In the scenario mentioned, the company will probably not be efficient because for instance, all information will have to flow to the CEO for decision making before being approved making the decision making process slower which could be costly when time is of the essence.
Answer:
Through feedback
Explanation:
Communication is the exchange of ideas between two or more people. Receiving feedback is a sign that you have passed a message across and received a response.
The other options (how quickly message is developed, use of jargon, and use of spell check) does not involve the other party communication is intended for.
So feedback from the other party is the best indicator that communication has occurred.
The first step is to set objectives
