One of Robert's Roles Within the Company That He Manages

question 53

Multiple Choice

One of Robert's roles within the company that he manages is to constantly examine what is happening in all sectors that have an impact on the industry,both within the business and outside of it.This role is referred to as:

• A) Social entrepreneurship
• B) BCG analysis
• C) Environmental analysis
• D) Strategic impass

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Definitions:

Hindsight Bias

The tendency to believe, after learning an outcome, that one would have foreseen it, often referred to as the "I-knew-it-all-along" phenomenon.

Overconfidence Bias

A cognitive bias which leads an individual to overestimate their knowledge, abilities, or control over situations.

Selection Bias

A type of bias caused by choosing non-random data for statistical analysis, which can cause the results to not be representative of the whole population.

Deductive Reasoning

A rational procedure in which an inference is derived from the harmony of multiple statements thought to be valid.