Internal Strategies for Growth Include

question 30

Multiple Choice

Internal strategies for growth include

• A) new product development.
• B) license a patent to another company.
• C) merge with another company.
• D) acquire another company.
• E) None of the above are internal strategies for growth.

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Definitions:

Functional Fixedness

A cognitive bias that limits a person to using an object only in the way it is traditionally used.

Problem-Solving Barrier

Refers to any obstacle, either internal or external, that impedes the process of finding solutions to a problem, including cognitive biases, lack of resources, or inadequate information.

Evolutionary Theorists

Scholars and scientists who study how evolutionary theory, which posits that species change over time due to natural selection and genetic variation, applies to various phenomena.

Natural Selection

A process in biology where organisms with traits that better enable them to adapt to their environment have a greater chance of surviving and reproducing.