-In the figure above, what is the function of item 1?
Definitions:
Innovation
The process of introducing new ideas, products, or methods to improve efficiency, effectiveness, or competitive advantage.
Economic Value
The worth of a good or service determined by the market, reflecting its ability to satisfy human needs or wants.
Contingency Approaches
Management theories suggesting that the best leadership or organizational practices depend on the specifics of the situation.
Contingency Model
A leadership theory that suggests the effectiveness of a leadership style is contingent upon the situation, including the leader's capability and the task characteristics.
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