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In July 2021, Matthew Olsen, Head of Finance of XYZ Management Consulting had just set aside an amount of R300,000.00 to cover the renovation of all the organisation's offices. The money will be held in a savings account at a local bank that pays 6.50% interest per annum. Half of the money will be drawn in August and the rest when the job is completed in 90 days. Q.4.2 Matthew had to meet with all the other Heads of Departments (i.e., Marketing and Human Resources) to discuss the plan in the above scenario. Identify and explain the type of 'formal organisational communication flow' applicable when Matthew met with the rest of the team.

In July 2021, Matthew Olsen, Head of Finance of XYZ Management Consulting had just set aside an amount of R300,000.00 to cover the renovation of all the organisation's offices. The money will be held in a savings account at a local bank that pays 6.50% interest per annum. Half of the money will be drawn in August and the rest when the job is completed in 90 days. Q.4.2 Matthew had to meet with all the other Heads of Departments (i.e., Marketing and Human Resources) to discuss the plan in the above scenario. Identify and explain the type of 'formal organisational communication flow' applicable when Matthew met with the rest of the team.

Understanding Business
Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
Section: Chapter Questions
Problem 1CE
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In July 2021, Matthew Olsen, Head of Finance of XYZ Management Consulting had just set aside an amount of R300,000.00 to cover the renovation of all the organisation's offices. The money will be held in a savings account at a local bank that pays 6.50% interest per annum. Half of the money will be drawn in August and the rest when the job is completed in 90 days. Q.4.2 Matthew had to meet with all the other Heads of Departments (i.e., Marketing and Human Resources) to discuss the plan in the above scenario. Identify and explain the type of 'formal organisational communication flow' applicable when Matthew met with the rest of the team.
Transcribed Image Text:In July 2021, Matthew Olsen, Head of Finance of XYZ Management Consulting had just set aside an amount of R300,000.00 to cover the renovation of all the organisation's offices. The money will be held in a savings account at a local bank that pays 6.50% interest per annum. Half of the money will be drawn in August and the rest when the job is completed in 90 days. Q.4.2 Matthew had to meet with all the other Heads of Departments (i.e., Marketing and Human Resources) to discuss the plan in the above scenario. Identify and explain the type of 'formal organisational communication flow' applicable when Matthew met with the rest of the team.
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