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Margene is the product manager at Fashions Ltd., a company that designs and manufactures clothes and fashion accessories. Noticing the rising popularity of rhinestone jewelry and the fact that only a handful of stores actually stocked it, she decides to take advantage of the latent demand in the market. Margene knows that she is taking a risk by committing organizational resources to pursuing this idea, but she is confident about the merit of her decision. In deciding the allocation of resources for attaining her goals, which managerial task is Margene performing?
Applied Psychology
The use of psychological principles and theories to overcome problems in real life situations.
Practical Application
The use of theoretical knowledge in a real-world scenario to solve practical problems.
Social Psychologists
Scientists who study how people’s thoughts, feelings, and behaviors are influenced by the actual, imagined, or implied presence of others.
Groups
Collections of individuals who interact with each other, share similar characteristics, and collectively have a sense of unity.
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