Explain Why Management's Philosophy and Operating Style Are Considered to Be

question 74

Essay

Explain why management's philosophy and operating style are considered to be the most important element of the internal environment.

Identify the process and effects of emotional contagion within groups or between individuals.

Understand the equity theory, including inputs, outcomes, and perceptions of fairness in organizational contexts.

Recognize the significance of job characteristics and rewards in determining job satisfaction and pay disparities.

Appreciate the role of communication in influencing perceptions of fairness and satisfaction in the workplace.

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Definitions:

Resource Suppliers

are entities or individuals that provide the inputs needed for production processes, including raw materials, labor, and capital.

Herfindahl Index

A measure of the concentration of industries, calculated by summing the squares of the market shares of each firm within the industry.

Market Power

The ability of a company or group of companies to manipulate the price of an item in the market by controlling its supply, demand, or both.

Technologically Progressive

Characteristics of economies, firms, or industries that are consistently implementing and benefiting from new technologies, leading to increased efficiency and productivity.