Define Top Management Teams and Explain the Effect of Top

question 45

Essay

Define top management teams and explain the effect of top management team characteristics on the effectiveness of a firm's strategy.

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Definitions:

Members' Meaning

The significance or interpretation that members of a group or organization attach to actions, symbols, or events within their organizational context.

Communication Model

A theoretical framework that explains the process, components, and effectiveness of communication between individuals or groups.

Groupthink

is a psychological phenomenon that occurs within a group of people when the desire for harmony or conformity results in irrational or dysfunctional decision-making outcomes.

Closed Groups

Exclusive circles or communities with restricted membership, where entrance is often regulated through specific criteria or invitations.