Give Four Principal Reasons Why Economies of Scale Can Occur

question 91

Essay

Give four principal reasons why economies of scale can occur when output increases.

Formulate recommendations for leaders to avoid dependency and enhance follower independence within path-goal theoretical framework.

Understand the concept of Leader-Member Exchange (LMX) theory and its significance in leadership.

Identify and describe the phases of relationship development in LMX theory.

Understand the implications of high-quality and low-quality LMX relationships on organizational outcomes.

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Definitions:

Internal Causes

refer to factors within an individual, such as personal beliefs or emotions, that influence their behavior or actions.

External Causes

Factors outside an individual's or organization's control that affect outcomes or conditions, often contrasted with internal causes.

Stereotyping

The act of categorizing individuals into specific groups based on preconceived notions or characteristics, often leading to biased judgments and actions.

Prejudice

A preconceived opinion or judgment towards people or things, often based on stereotypes rather than actual experience or knowledge.