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Scenario - Malcolm Bagget
Malcolm Bagget has been working as a production employee for the last three years. His firm is currently undergoing a change in structure with a new management group and the production department is being restructured. Each production employee will be assigned to a small six-member production team. Malcolm is looking forward to the extensive cross training that has been promised and is looking forward to enjoying more power and discretion than he has had in the past. In addition to skill training, Malcolm is receiving management training in team building.
-When Malcolm's team encounters the establishment of order and cohesion with the leader helping to clarify team roles and values, then his team is in the developmental stage of team development of _____.
Perfect Equality
A theoretical state where all individuals have exactly the same income or wealth, eliminating disparities.
Income Distribution
The way in which total income is spread amongst the population or different groups within a society.
Lorenz Curve
A diagrammatic representation that exhibits how wealth or income is distributed among people in a society, underscoring the existing inequalities.
Gini Ratio
A scale measuring the degree of income difference among people in a demographic, with 0 symbolizing perfect equity and 1 symbolizing utter inequity.
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