According to Penrose, Managerial Services Generate New Market, Product, and Service

question 33

True/False

According to Penrose, managerial services generate new market, product, and service ideas, while entrepreneurial services administer the routine functions of the firm and facilitate the proper execution of new opportunities.

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Definitions:

360-Degree Feedback

A feedback process where employees receive confidential, anonymous feedback from the people who work around them, including peers, managers, and direct reports.

Directive Management Style

An approach to leadership where the manager makes decisions unilaterally and controls the work processes, often with little input from subordinates.

Experience of Flow

A mental state of deep immersion and involvement in an activity, where individuals lose their sense of time and self-consciousness, often resulting in high levels of productivity and creativity.

Participative Management

A management style where employees at all levels are involved in decision-making processes, enhancing motivation and teamwork.