Goal Congruence Refers to the Match Between

question 130

Multiple Choice

Goal congruence refers to the match between

• A)locations of manufacturing plants and customers.
• B)goals based on profits and those based on return on investment.
• C)number of units produced and number of units sold.
• D)goals of the individual managers and those of the company as a whole.

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Definitions:

Competition

A market condition where various sellers vie to attract customers by offering better terms, services, or goods.

Specialization

The process of focusing effort and resources on a specific task or area of production to increase efficiency and expertise.

Trade

The exchange of goods, services, or both within or between countries.

Invisible Hand

A metaphor for the self-regulating nature of the marketplace that guides individuals to unintentionally benefit society through the pursuit of their own interests.