A Business Model Should Be Selected with Great Care Because

question 93

True/False

A business model should be selected with great care because it cannot be changed, or even adjusted, once a firm begins to use the model to implement its business-level strategy.

---

Definitions:

Intuitive

Characterized by the ability to understand or know something immediately based on instinctive feelings rather than conscious reasoning.

Thinking

The process of considering or reasoning about something.

Decision Trap

A situation in decision-making where biases, poor information, or pressure leads to a significant or systematic error.

Framing Error

A cognitive bias in decision-making that occurs when information is presented in a way that influences an individual's interpretation or decision.