Culture and Strategy
The terms are prevalent in corporate firms, closely intertwined, and are effected for a winning combination. They are entangled since culture complements strategy by expressing a firm’s goals through values, behaviour, and attitude, thereby reflecting the company’s goals framework provided for in the approach. Both lie primarily at the top leaders’ responsibility of maintaining organizational effectiveness and viability.
Whether Klein is trying to implement a Hybrid of Bureaucratic and Clan Control
In the realignment of the M R O industry, A P Nichols features a bunch of factors that require change, among them profitability. Regarding profit change, Nichols proposes organizations ought to measure proceeds in financial ratios such as return on assets, return on equity and gross profit margin, and focuses on market control management system. The analyst views the profitability level as a factor highly dependent on the income statement reports of the operational outcomes of a firm. Klein company is indeed effortful to implementing a hybrid of the bureaucratic system and clan control. The statement is true since the management system of Klein company uses rules, the hierarchy of command, and in general, formal mechanisms to orient employee conduct, unlike in a market control system.
Economic Growth Theories
Economic Growth refers to an increment in the number of goods and services produced per individual in a defined population within a specific time and is usually measured in real gross domestic product. Economic Growth is influenced by diverse factors, namely physical wealth, human resources, technology, and nature. There exist theories explaining the financial growth aspect, and the prominent ones include mercantilism, classical, neo-classical theory, endogenous Growth, Keynesian, and new growth theories.
Theory Policies Successful in Spurring Growth in a Metropolitan area
The neoclassical theory postulates that short-term economic equity results from varying amounts of capital and labour, which are vital in the production process. Keynesian theory, on the other hand, states that the government should increase demand to facilitate Growth since consumer demand is the backbone of an economy. In contrast to the two theories, new Growth or modern theory suggest that unlimited human wants to boost the ever-increasing productivity hence economic Growth. Moreover, in a metropolitan area to achieve commercial growth rate, neoclassical theory best explains how development is proportional to a population. It is within the fact of a vast populations’ potential to foster economic development by providing production resources such as labour and technological expertise, which is necessary for the production process. Economic Growth is proportional to consistently high production.