A Company That Focuses on Value Creation Builds Innovative Solutions

question 20

True/False

A company that focuses on value creation builds innovative solutions around consumer needs and wants, not the physical product.

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Definitions:

Higher-Order Needs

Refers to the advanced levels of needs in Maslow's hierarchy, including esteem and self-actualization needs, beyond basic physiological and safety requirements.

Esteem

A psychological term describing a positive or negative attitude toward oneself; an aspect of self-respect or self-worth.

Persistence of Effort

The continual exertion of effort towards achieving a goal, despite obstacles or difficulties.

Motivation

The driving force behind individuals' actions, desires, and needs, influencing their behavior and goal achievement.