Final answer:
The managers of Flatiron Inc. were exercising the management function of organizing by reviewing job responsibilities, grouping jobs into work units, and reallocating resources to increase coordination and cooperation within the company.
Step-by-step explanation:
The managers of Flatiron Inc. were exercising the management function of organizing. Organizing refers to the process of arranging tasks, allocating resources, and establishing authority and communication channels within an organization. By reviewing and specifying job responsibilities, grouping jobs into work units, and reallocating resources, the managers were effectively organizing the company to increase coordination and cooperation.