Describe the Two Factors That Affect How Much We Need

question 105

Essay

Describe the two factors that affect how much we need to save to achieve financial goals.

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Definitions:

Refreezing

The process of stabilizing a group or organization after a change has occurred, ensuring that the changes made are permanent and integrated into the norm.

Force-coercion Strategy

A change strategy that pursues change through formal authority and/or the use of rewards or punishments.

Rational Persuasion Strategy

A change strategy that pursues change through empirical data and rational argument.

Environmental-adaptive Strategy

Environmental-adaptive Strategy involves an organization's approach to adapting and evolving in response to changes and challenges in its external environment, rather than attempting to change the environment itself.