When an Industry Is in Decline, Firms Do Not Necessarily

question 33

True/False

When an industry is in decline, firms do not necessarily exit; they may just shrink.

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Definitions:

Alignment

The act of adjusting or arranging elements in a straight line or in correct relative positions; in a social context, it refers to the process of aligning one's behavior or attitudes with those of a group or another individual.

Ideal Self

The representation of the attributes one aspires to have, reflecting personal goals and standards of perfection.

Ought Self

The Ought Self is a component of self-discrepancy theory that represents the attributes a person believes they should possess, often influenced by societal expectations or personal obligations.

Working Self-concept

The subset of an individual's self-knowledge that is brought to mind in a particular context, influencing behavior and self-presentation in that situation.