When an Organizational Element or Practice Is Made So Essential

question 36

Multiple Choice

When an organizational element or practice is made so essential that its value is taken for granted, it is referred to as _________.

• A)generating a sense of urgency
• B)building a guiding coalition
• C)creating a vision
• D)institutionalizing change

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Definitions:

Cost of Effort

The expenditure, both physical and mental, that a person invests in performing a task or achieving an outcome.

Asymmetric Information Problems

Situations where one party in a transaction has more or superior information compared to another, leading to market inefficiencies.

Horizontally Integrated Firms

refers to companies that expand by acquiring or merging with other firms operating at the same level in the supply chain or in the same industry.

Vertically Integrated Firms

Companies that control multiple stages of production for their products, from raw materials to final goods, to reduce costs and increase efficiency.