Explain the Difference Between Internal and External Growth Strategies

question 36

Essay

Explain the difference between internal and external growth strategies. Provide examples of each.

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Definitions:

Intellectual Stimulation

The process or activities involved in challenging and enhancing an individual's mental capacity and understanding.

Innovative and Creative

Terms used to describe ideas or methods which are novel and show ingenuity, creativity often refers to the ability to generate new ideas, while innovation involves applying those ideas effectively.

LMX Model

Leader-Member Exchange Theory, a model that emphasizes the importance of the relationship between leaders and followers, impacting organizational outcomes.

Additional Support

Extra help or assistance provided to meet the needs beyond what is usual or expected.