The Fastest-Growing Component of U.S.personal Consumption Is Services

question 36

True/False

The fastest-growing component of U.S.personal consumption is services.

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Definitions:

Stability Strategy

Essentially calls for maintaining the status quo. A company that adopts a stability strategy plans to stay in its current businesses and intends to manage them as they are already being managed. The organization’s goal is to protect itself from environmental threats. A stability strategy is frequently used after a period of retrenchment or after a period of rapid growth.

Diversification Strategy

A diversification strategy is used by companies that are adding new products, product lines, or businesses to their existing core products, product lines, or businesses.

Fleishman Job-Analysis

A systematic method for evaluating the skills, abilities, and knowledge required for specific jobs, developed by Edwin A. Fleishman.

Taxonomy

A system of classification that organizes concepts, objects, or information into categories based on shared characteristics or attributes.