The More Narrowly We Define a Product-Market, the Shorter the Product

question 19

True/False

The more narrowly we define a product-market, the shorter the product life cycle because improved product ideas come along to replace the old.

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Definitions:

McGregor

Douglas McGregor developed the Theory X and Theory Y concept, representing two opposing perceptions of employee motivation and behavior.

Theory X

A management theory that assumes employees are inherently lazy and will avoid work if they can, suggesting the need for strict oversight and control.

Theory Y

A management concept that assumes employees are inherently motivated and enjoy their work duties, suggesting that the role of management is to develop the potential of employees and help them to achieve self-fulfillment.

Management Technique

A method or approach used by managers to improve efficiency, solve problems, and achieve organizational goals.