The Contingency Approach Is a Helpful Addition to Management Thought

question 109

True/False

The contingency approach is a helpful addition to management thought because it emphasizes situational appropriateness.

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Definitions:

Outsourcing

The practice of hiring third parties to execute services or produce goods that were traditionally performed in-house.

Fixed Costs

Expenses that do not change with the level of production or sales, such as rent, salaries, and insurance premiums.

Legal And Social Obligations

The responsibilities and duties that individuals and organizations must adhere to, based on both legal requirements and ethical considerations within society.

Enhanced Citizenship Role

A concept referring to increased participation and engagement of individuals in their community or society, beyond their basic rights and obligations.