COMM 1010 Study Guide - Organizational Chart

• School: Dalhousie University
• Department: Commerce
• Course: COMM 1010
• Professor: Mc Larney

Document Summary

Economies of scale: the situation in which companies can reduce their production costs if they can purchase raw materials in bulk and develop specialized labour; resulting in the average cost of goods going down as production levels increase. Economies of scope: efficiencies associated with the demand side of a business where more products are promoted or a broader media is used to increase the potential customers reached with each dollar spent. Hierarchy: a system in which one person is at the top of the organization and there is a ranked or sequential ordering form the top down of managers who are responsible to that person. Chain of command: the line of authority that moves from the top of a hierarchy to the lowest level. Bureaucracy: an organization with many layers of managers who set rules and regulations and oversee all decisions.