When an Organization Takes Action in Anticipation of Upcoming Events

question 1

Multiple Choice

When an organization takes action in anticipation of upcoming events or early in the cycle of a new trend, it undergoes _______________ change.

• A) radical
• B) incremental
• C) reactive
• D) anticipatory
• E) dysfunctional

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Definitions:

Pecking Order

A social hierarchy among a group, where individuals or entities are ranked relative to each other.

Luxury-Goods Spending

The expenditure on products and services that are considered high-quality, prestigious, and often more expensive than necessary.

Consumer Optimism

The tendency of consumers to hold positive expectations about the overall economy or their personal financial situation.

Tightwad

Refers to a person who is extremely unwilling to spend money; often perceived negatively.