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Refer to the Scenario Below to Answer the Following Questions

question 63

Multiple Choice

Refer to the scenario below to answer the following questions.
Leading Change (Scenario)
Robert is vice-president of human resources at Dynamic Corporation. The company's president, Bill Fence, is retiring soon, and the board of directors has asked Robert to begin the search for a new president. Robert must carefully consider the skills and qualities that will be required to lead the company into the future. The past five years have been a period of relative stability for the industry, and Bill has done a good job of clarifying roles and guiding the organization toward established goals. Now, however,, the business environment is changing, and Robert knows that the next president will need to possess different qualities to effectively lead the company in the turbulent years to come. Robert reviews the various approaches to leadership in times of change.
-Another option is __________ leadership, which goes beyond charisma and includes the ability to create and articulate a realistic outlook that improves upon the present situation.

Recognize the importance of personal development strategies within professional settings.

Distinct the concepts of reward power from coercive power and their respective impacts on organizational effectiveness.

Realize the implications of authority, specifically referent power and its scope in the workplace.

Understand the concept and application of standard costs and budgets in managerial accounting.

Definitions:

Internal Control

Methods and protocols established by an organization to guarantee the reliability of financial and accounting data, foster responsibility, and avert deceit.

Record-Keeping Function

The process of maintaining a record of business transactions and financial activities for future reference.

Account System

Refers to a structured process of recording, analyzing, and managing financial transactions of a business or individual.

Backlog

The accumulation of work or orders that have been promised or planned but not yet completed or delivered.