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Application of Shortcuts Used in Judging Others

question 64

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Application of Shortcuts Used in Judging Others
Frederic has 15 sales employees for whom he is responsible. In the next month, he must conduct performance evaluations for all of his employees. His employees are all so different, sometimes it seems to Frederic there is no way to give an honest appraisal of each individual. Just this morning, for example, two employees were late for the weekly sales meeting. Frederic can never remember Jake being late before, but Carol is late every week. Carol's constant tardiness for their weekly meeting is the primary characteristic that comes to mind when Frederic sits down to do her performance appraisal. Jake, on the other hand, is always on time, always has his reports in by their due date, and always meets all deadlines. Then there is George.
George is his outstanding salesperson. Each month Frederic expects more business to be written by George than the previous month, and George never lets him down. At least Frederic knows he can depend on George.
-Carol's behavior seems consistent to Frederic. He will probably conclude that her behavior is

Definitions:

Monopolistically Competitive

In a monopolistically competitive market, many firms sell products that are similar but not identical, allowing for some degree of market power and price setting.

Highly Concentrated

Refers to a situation or market in which a few entities or businesses hold a large majority of market share or influence.

Market's Domination

A condition in which one or more firms hold a significant share of the total market sales, limiting competition and possibly leading to higher prices or lower quality for consumers.

Monopolistically Competitive

A market structure where many firms sell products that are similar but not identical, allowing for some degree of market power.