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There Are Three (3)basic Business Strategies: Low Cost, Premium Products

question 63

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There are three (3)basic business strategies: low cost, premium products, and customer satisfaction.


Definitions:

Norming

The process during which a group establishes norms or shared standards of behavior that dictate member conduct.

Interpersonal Interdependence

The degree to which the actions of one individual affect the outcomes and welfare of another in a relationship.

Group Cohesiveness

The extent to which members of a group feel bonded or united towards achieving a common objective or maintaining group membership.

Social Compensation

Increased effort on a collective task to compensate for other group members’ actual, perceived or anticipated lack of effort or ability.

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