Information Technology Can Help Firms ________ the Cost of Market

question 84

Short Answer

Information technology can help firms ________ the cost of market participation making it worthwhile for firms to contract with external suppliers instead of using internal sources.

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Definitions:

Relatedness

The need to have meaningful relationships with others, considered essential for psychological well-being.

Growth Needs

The need for personal development, accomplishment, and self-actualization.

Hierarchical Need Theory

A psychological theory proposing that individuals have an order of needs that range from basic physical requirements to complex psychological needs, which must be fulfilled sequentially.

Self-Determination Theory

A theory of motivation that emphasizes the role of intrinsic motivation in driving human behavior and the importance of psychological needs for autonomy, competence, and relatedness.