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

Firms that are under the control of a single individual and produce a limited number of products/services usually follow an entrepreneurial mode, as the decisions are made by the entrepreneur and not a board of directors. Planning mode is more appropriate for large corporations, adaptive mode refers to organizations that are flexible and quick to change, and corporate mode refers to organizations with a board of directors and a hierarchy of management.

Firms That Are Basically Under the Control of a Single