The Best Renewal Strategy for a Business Is to Add

question 18

True/False

The best renewal strategy for a business is to add new products and services while improving efficiency at the same time.

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Definitions:

Satisfaction Deficit

A state where an individual's or group's needs, expectations, or desires are not met, leading to a sense of dissatisfaction.

Theory Y

Assumes people are willing to work, accept responsibility and are self‐directed and creative.

McGregor

Refers to Douglas McGregor's theories X and Y, which are concepts in management and motivation theory that describe two contrasting models of workforce motivation applied by managers in human resource management, organizational behavior, and organizational development.

Self-Direction

The capability or act of guiding oneself towards achieving goals and aspirations with autonomy and independence.