Refer to Scenario: ConocoPhillips

question 22

Multiple Choice

Refer to Scenario: ConocoPhillips.ConocoPhillips is paring back its deep water and Alberta oil sands exploration projects and is laying off workers.What type of downsizing strategy is the company implementing?

• A)systematic change and operation reductions
• B)work redesign and workforce reduction
• C)work redesign and bottom line cost cutting
• D)systematic change and work design

Realize the importance of followership research in understanding how followers respond to leaders.

Acknowledge the importance and value of followers in organizational success and leadership effectiveness.

Understand the psychological factors that influence individuals' susceptibility to dysfunctional or toxic leaders.

Recognize the evolving perspective on leadership and followership as a co-constructed process that emphasizes the relational dynamics between followers and leaders.

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Definitions:

Inflation

The speed at which the average price level of goods and services escalates, weakening the power to purchase.

Unemployment

The situation in which individuals who are capable of working and are actively searching for a job are unable to find employment.

Natural Rate

A concept in economics referring to the level of any economic variable, such as unemployment or interest, that is not affected by short-term fluctuations.

Monetary Policy

The policy laid down by the central bank or monetary authority of a country, focusing on controlling the money supply and interest rates to achieve economic objectives.