Examlex
After a change agent has diagnosed the state of the organization, what is the next step the change agent will take as part of the organizational development process?
Efficient Allocation
An economic condition where resources are distributed in a way that maximizes the welfare of society, ensuring that every good or service is produced up to the point where the last unit provides a benefit equal to the cost of producing it.
Risk
Uncertainty about future outcomes.
Risk-Averse
A description of an individual or organization that prefers to avoid uncertainty and is willing to sacrifice some potential gain to avoid risk.
Expected-Utility Maximizer
An economic concept referring to an individual who chooses between uncertain prospects by comparing their expected utilities.
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