Since There Is Only One Way to Compete in a Particular

question 35

True/False

Since there is only one way to compete in a particular industry, a manager must be dedicated to pursuing this strategy and align functional activities and organizational arrangements with that strategy in order to execute it well.

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Definitions:

Heuristics

Cognitive shortcuts or rules of thumb that simplify decision making, often leading to quick but sometimes inaccurate judgments or predictions.

Decision-making Biases

Systematic errors in thinking that affect the decisions and judgments that people make.

Persuasive Argument Theory

A theory suggesting that the process of persuasion involves the presentation of arguments, which leads to attitude change when the arguments are received and accepted by an individual.

Actor-observer Difference

A cognitive bias where people tend to attribute their own actions to external situations while attributing others' actions to their personalities or dispositions.