After You Understand Your Competition and Its Affect on Your

question 110

Multiple Choice

After you understand your competition and its affect on your industry, what should you do next?

• A) Identify the limitations of technology
• B) Define the knowledge base of your workforce
• C) Align your strategies, processes, and technology with your understanding of your industry
• D) Determine your long-term goals and how these differ from your current thinking

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Definitions:

LMX Relationships

Stands for Leader-Member Exchange, a concept explaining how leaders develop disparate relationships with members of their team, leading to different experiences and outcomes for team members.

Workgroup

A group of individuals who work together towards a common goal, typically within the same department or project team.

LMX

Leader-Member Exchange theory, a concept that focuses on the two-way (dyadic) relationship between leaders and members which can affect the performance and satisfaction of both.

Cultures

The collective patterns of values, beliefs, behaviors, and artifacts that characterize a group of people or an organization.