Because Making Competitive Bids Is Costly and Time-Consuming, Firms Should

question 47

True/False

Because making competitive bids is costly and time-consuming, firms should choose potential bid opportunities with care.

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Definitions:

Goal-Setting Theory

A motivational theory that emphasizes the importance of setting specific, challenging goals to enhance performance and achieve desired outcomes.

Setting Goals

The act of defining specific, measurable, achievable, relevant, and time-bound objectives that guide actions and efforts.

Performance-contingent Basis

A system where rewards or consequences are applied based on the level of performance achieved, incentivizing certain behaviors or outcomes.

Under-reward Inequity

A perception among employees that their rewards do not match the effort and contributions they have made, leading to dissatisfaction.