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Refer to the scenario below to answer the following questions.
Hersey and Blanchard's Situational Leadership Theory(Scenario)
Eric is trying to find the right leadership approach to use on his diverse group of employees. The workers vary widely in age, experience, and enthusiasm. Some employees need a lot of direction, while others do not. Yesterday, Eric accidentally upset one of the older and more experienced workers, Hazel, by trying to offer too much help. Hazel is a very capable and willing employee, and after 20 years with the company, she probably knew the job a lot better than Eric did. But he was only trying to be helpful, and he was also trying to compensate for the day before when he had not offered enough help to another worker, Joe. As a new employee, Joe had very little experience and needed a lot of specific information about his work duties. Other employees were more like Hank, who was able to do his job and liked to share in decision making. In his interactions with Hank, Eric focused more on communication and facilitation. After some consideration, Eric has chosen to apply Hersey and Blanchard's situational leadership theory.
-Where leading Hazel is concerned, Eric will probably __________.
Price-Taker Markets
Markets in which individual sellers or buyers have no control over setting prices and must accept the prevailing market price.
Homogeneous Product
Products that are of the same quality and are indistinguishable by buyers.
Competitive Weapon
A unique capability or strategy employed by a company to outperform its competitors.
Barrier To Entry
Elements or circumstances that prevent or hinder the ability of new competitors to enter an industry or market.
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