Organizations Following A(n) ________ Strategy Try to Both Minimize Risk

question 6

Multiple Choice

Organizations following a(n) ________ strategy try to both minimize risk and maximize opportunity for profit, moving into new products or new markets only after innovators have proven their viability.

• A) innovation
• B) cost-cutting
• C) imitation
• D) technology
• E) mechanistic

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Definitions:

Time Pressure

The stress experienced when one perceives that there is not enough time available to perform a task or meet a deadline.

Communication Breakdowns

Disruptions or failures in the process of exchanging information that can lead to misunderstandings, conflicts, and inefficiencies within organizations.

Superordinate Goals

Objectives that require cooperation between two or more groups or individuals, often used to resolve conflicts by creating a shared purpose that outweighs individual or group conflicts.

5P Checklist

An approach focusing on People, Process, Product, Place, and Price to evaluate and improve business strategies or project plans.