Question

ABC Inc. company, founded by three women who met in college, has recruited talented people since its inception. It now employs approximately 350 people. Once a month a meeting is held where anyone can present new ideas to management. Coming out of these meetings, presenters have 30 days to work on a proof of concept or prototype, after which management makes a decision to pursue an idea company-wide or drop it. If an idea is selected, the individual(s) who presented the ideas receive a cash bonus. Based on this information, what kind of company is ABC Inc.?

Answer 1

ABC Inc. is an innovative, progressive company with a culture that encourages and rewards employee contributions and new ideas.

Step-by-step explanation:

Based on the information provided, ABC Inc. appears to be a progressive and innovative company that values creative thinking and participation from its employees. With a strong focus on collaboration and employee engagement, it adopts a model where new ideas are encouraged and rewarded. The practice of holding monthly meetings for idea pitches, followed by a supportive process for proof of concept development, suggests that ABC Inc. aligns with a modern, employee-centric corporate culture that fosters innovation and may be structured around a flat or matrix organizational model.

Answer 2

small business entrepreneurship

Step-by-step explanation:

This is an entrepreneurship because it was created by three entrepreneurs (people who start their own businesses) that focus on creating their own new products.

It is also classified as a small business because it has less than 500 employees, and since we don't know their total revenue (small businesses have up to $35.5 million in total sales), that is the only parameter we can use.