The German car company, Daimler-Benz, merged with Chrysler in 1998. Cultural differences and organizational culture are both acknowledged to have played a role in the failure of the merger. Daimler was a German company that could be described as "conservative, efficient and safe," while Chrysler was known as "daring, diverse, and creative." The attitude toward hierarchy was different as well. Daimler was heavily hierarchical, with a clear chain of command and respect for authority. Chrysler, on the other hand, was more team-oriented and egalitarian in its approach. Daimler valued reliability and achieving the highest levels of quality, while Chrysler relied on catchy designs and offering cars at competitive prices. These cultural differences led to conflicting orders and goals in different departments. The difference in the two companies’ views of reliability vs. competitive pricing is an example of:

Self-interest achieve society’s economic goals because producers know which goods consumers want the most. as consumers and producers exercise their freedom to act in their own self-interest, markets will produce the desired goods at the lowest possible cost. consumers and producers both operate based on society’s economic goals. consumers know which goods can be produced at the lowest cost. there is a wide variety of desired goods and services in a market system because producers determine what to produce. consumers change their minds frequently. there is always a need to produce something new and improved. individual wants are diverse. what is produced is ultimately determined by consumers, because if the goods offered are not what consumers want, consumers will not buy them. producers, because they are driven by profits. producers, because they determine what to produce. consumers, because they participate in marketing surveys.