Situational Theory Model Is Easier to Understand Than Fiedler's Model

question 117

True/False

Situational theory model is easier to understand than Fiedler's model, but it incorporates only the characteristics of followers, not those of the situation.

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Definitions:

Value Creation

The process by which goods or services are provided that offer value to customers, thereby generating benefit to the producer or provider.

Comparative Advantage

a principle of economics that states a country or entity should produce goods and services for which it has a lower opportunity cost than its trade partners.

Specialization

involves focusing on a narrow range of products or services to gain efficiency and improve competitive advantage.

Exchange

The act of giving one item in return for another, often seen in finance and trade as the swapping of goods, services, or financial instruments.