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How does the phenomenon of diminishing returns to capital explain the catch-up effect?
Bureaucratic Culture
An organizational culture characterized by formal procedures, hierarchical structure, and a clear division of labor, emphasizing control and authority.
Standardization
The process of making something conform to a standard in order to ensure consistency and compatibility.
Clan Culture
A type of organizational culture that emphasizes family-like relationships, where loyalty, tradition, and values are cherished.
Formality
The degree of adherence to established conventions, rules, or ceremonial procedures.
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