External Adaptation, a Function of Culture in Organizations, Means That

question 31

True/False

External adaptation, a function of culture in organizations, means that culture helps organizational members develop a collective identity and know how to work together effectively.

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Definitions:

Significant Barriers

Major obstacles or impediments that prevent new competitors from easily entering an industry or area of business.

Economic Profits

The difference between a firm's total revenues and its total costs, including both explicit and implicit costs, resulting in surplus gain.

Product Variety

The diversity of different items a firm, industry, or economy produces, providing consumers with multiple options to satisfy their preferences.

Graph Drawing

The process of representing data visually using plots and charts to make the information easier to understand.