3M Allocates More Resources to New Projects with Large Sales

question 204

True/False

3M allocates more resources to new projects with large sales potential than it allocates to mature products with low growth potential.This illustrates the principle that "goal setting helps managers assess performance."

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Definitions:

Contract

A legally binding agreement between two or more parties, enforceable by law.

Corporate Bodies

Corporate bodies are legal entities recognized by law as capable of rights and duties, separate from the individuals who form or manage them, typically referring to businesses or organizations.

Special Legislation

Laws that are made to meet specific needs or regulate particular issues, as opposed to general legislation that applies to broader situations.

Binding Agreements

Contracts or legal agreements that are enforceable by law, where all parties must adhere to the terms stated.