Principles-of-Management Exam Dumps : Principles of Management at Western Governors University(IAC1)

The competitive force reduced by barriers such as government policies, capital requirements, brand identification, and cost disadvantages is the threat of new entrants. These barriers make it difficult for new firms to enter an industry and compete with established companies, thereby protecting existing firms from new competitors​​.

A feature of a bureaucracy (vertical) organization is that formal position authority is generally the primary means of running the organization. This means that decisions and directives come from a hierarchical chain of command, and roles, responsibilities, and processes are clearly defined and standardized.

Formal Position Authority(Answer B): Bureaucratic organizations rely on a clear hierarchy where authority and decision-making processes are well-defined and based on formal positions​​.

Decentralized Decision Making(Answer A),Collaboration Across Departments(Answer C), andAnswering to Multiple Bosses(Answer D): These features are more characteristic of organic or matrix organizations rather than traditional bureaucracies.

The first step of the control process is setting performance standards.

Setting Performance Standards(Answer B): This step involves establishing the criteria against which performance will be measured. These standards serve as the benchmark for assessing actual performance and determining any necessary corrective actions​​.

Measuring Performance(Answer C) andComparing Performance Against Standards(Answer D): These steps come after setting performance standards.

Taking Corrective Action(Answer A): This is the final step in the control process.