ECONOMICS

Detailed explanation-1: -Matrix structure. In the matrix style of organizational structure, employees are divided into teams that report to two managers-a project or product manager along with a functional manager.

Detailed explanation-2: -McDonald’s Corporation, one of the leading fast-food chains in the world is an ideal example of a divisional organizational structure. The overall business is divided into independent divisions that have responsibilities based on operational requirements.

Detailed explanation-3: -Functional Organizational Structure A structure of this type groups individuals by specific functions performed. Common departments such as human resources, accounting and purchasing are organized by separating each of these areas and managing them independently of the others.

Detailed explanation-4: -The four types of organizational structures are functional, multi-divisional, flat, and matrix structures. Others include circular, team-based, and network structures.

Detailed explanation-5: -For example, preparation of accounts, making sales, record keeping, quality control, inventory control, etc.