The ________ Is When Decision Makers Tend to Remember Events

question 121

Multiple Choice

The ________ is when decision makers tend to remember events that are the most recent and vivid in their memory.

• A)sunk costs error
• B)hindsight bias
• C)availability bias
• D)representation bias
• E)selective perception bias

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Definitions:

Corporate Strategy

The overall plan which outlines the goals of a corporation and the methods to achieve those goals.

Opportunities And Threats

External factors in the environment that an organization can exploit for its advantage (opportunities) or that could cause harm if not addressed (threats).

Environmental Conditions

The state of the physical surroundings within which an organization operates, including climate, natural disasters, and pollution levels.

Values

The basic beliefs that govern individual and group behaviour in an organization.