Which of the Following Statements Is Correct About Power Distance

question 149

Multiple Choice

Which of the following statements is correct about power distance?

• A)Leaders in high power distance countries emphasize equality and opportunity for everyone.
• B)In low power distance countries leaders are not to "stand out too much" from the rest of their firms.
• C)Organizations in low power distance countries are more hierarchical in nature than in high power distance countries.
• D)In high power distance countries formal review mechanisms are in place to give everyone a fair chance at pay raises.

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Definitions:

Maximize Profit

The primary goal of businesses to achieve the highest possible profit margin by optimizing revenue while minimizing costs.

Fixed Costs

Costs that do not vary with the level of production or sales, including rent, salaries, and insurance premiums, providing stability in budgeting and planning.

Value-based Pricing

A pricing strategy where the price is set based on the perceived value to the customer rather than based on the cost of the product or historical prices.

Economic Value

The measure of the benefit provided by a good or service to an economic agent.