Tacit Knowledge Is Probably the Most _________ Resource

question 71

Multiple Choice

Tacit knowledge is probably the most _________ resource.

• A)Static
• B)Organizationally complex resource
• C) Hard-to-imitate
• D) Outsourced

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Definitions:

Sunk Fallacy

A cognitive bias that compels people to continue investing in a project or decision based on the cumulative prior investment (time, money, resources), despite new evidence suggesting that the cost, moving forward, outweighs the expected benefit.

Endowment Effect

A cognitive bias that causes individuals to value an owned object higher than its market value.

Chronological Age

The actual age of an individual measured in years from the date of birth.

Mental Age

A concept used in intelligence testing that represents the intellectual age level an individual is functioning at, as compared to the average intellectual performance of individuals in their chronological age.