Refer to the Scenario Below to Answer the Following Questions

question 92

Multiple Choice

Refer to the scenario below to answer the following questions.
The Retreat (Scenario)
The first-line managers were sent on a retreat to Niagara Falls for their inaugural strategic planning meeting. Few people knew one another, but their task was clear: design a new performance appraisal system for subordinates that will be effective and usable. Their years of complaining about the old system had landed them with this new responsibility dumped right in their lap. They had four days to become brilliant, and everyone was a little on edge. The first day, little was accomplished except for the jockeying to see who would be the official leader. Finally, Jim seemed to wrestle control and helped provide the first real direction for the group. By the second day, the group seemed to begin working well. They spent the morning deciding how they would make decisions within the group and how to manage the idea-generation process. The third and fourth days saw the new managers move amazingly quickly, with ideas flowing freely. By the end of the fourth day, they had a workable system developed, and they felt satisfied. That night they all signed the new document to be presented to the regional manager the next day. They all felt a sense of regret at having to break up the group and return to normal work life.
-The group was in the __________ stage when they were competing to see who would lead the group.

• A) performing
• B) storming
• C) forming
• D) adjourning
• E) norming

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Definitions:

Gold Standard

A monetary system in which the value of a country's currency is directly linked to gold, ensuring stability and trust in the currency.

Time Deposits

A financial product provided by banks that offers a higher interest rate in exchange for keeping a specified amount of money untouched for a predetermined period.

Reserve Requirement

The minimum percentage of customer deposits and notes that a bank must hold as reserves rather than lending out, as mandated by the central bank.

Demand Deposits

Bank accounts from which deposited funds can be withdrawn at any time without any notice to the institution, typically through writing checks.