Firms that are basically under the control of a single individual and produce a limited number of products/services are referred to as following ______ mode.

Question

Quizplus · Accepted Answer

The description given fits the characteristics of an entrepreneurial mode of operation where a single individual has control over the firm and it produces a limited number of products/services. Intrapreneurial mode refers to the operation of a division or unit within a larger corporation that operates like an entrepreneurial firm. Managerial mode refers to a mode of operation where a firm is run by a team of managers. Corporate mode refers to a mode of operation where the firm is owned by shareholders and run by a board of directors.

Firms That Are Basically Under the Control of a Single