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Chapter 24: Q7RQ (page 1355)

What is a responsibility center?

Short Answer

Expert verified

Responsibility center refers to the section or unit of an organization responsible for specific tasks assigned to the same.

Step by step solution

01

Meaning of Organization

The term organization refers to the association of individuals and other bodies who agree to perform particular activities for the accomplishment of common goals specified by the management.

02

Meaning of Responsibility Center

The term responsibility center refers to a unit of anentity or organization responsible for all the events, tasks, and activities associated with such a particular unit. Each responsibility center carries its separatetasks and goals.

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Most popular questions from this chapter

What is goal congruence?

What are the four perspectives of the balanced scorecard? Briefly describe each.

Well-designed performance evaluation systems accomplish many goals. Describe the potential benefits performance evaluation systems offer.

List the disadvantages of decentralization.

Decentralization divides company operations into various reporting units. Most decentralized subunits can be described as one of four different types of responsibility centers.

Requirements

1. Explain why companies decentralize. Describe some typical methods of decentralization.

2. List the four most common types of responsibility centers, and describe their responsibilities.
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