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What is Principle Based Management™ (formerly Market-Based Management®)?
What is Principle Based Management™ (formerly Market-Based Management®)?
- A collection of time-tested principles applied to daily efforts (correct)
- A philosophy focusing on maximizing individual contributions
- A hodgepodge of 'whatever works' management system
- A system based on collecting best practices from successful businesses
How does Principle Based Management differ from some other management systems?
How does Principle Based Management differ from some other management systems?
- It focuses on maximizing profits for the organization
- It begins with fundamental principles and then applies them to daily efforts (correct)
- It relies on a hodgepodge of 'whatever works' approach
- It collects best practices from successful businesses
What are the core questions at the heart of Principle Based Management philosophy?
What are the core questions at the heart of Principle Based Management philosophy?
- Questions about employee satisfaction, work-life balance, and job security
- Questions about maximizing profits, attracting investors, and achieving financial goals
- Questions about market trends, competition, and product development
- Questions about creating value, shared understanding, building culture, and knowledge (correct)
How is Principle Based Management organized?
How is Principle Based Management organized?
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What is the primary focus of Principle Based Management philosophy?
What is the primary focus of Principle Based Management philosophy?
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