Best Practices of High-Growth, High-Performance Firms Applied in the Financial

question 28

True/False

Best practices of high-growth, high-performance firms applied in the financial practices area include "preparing detailed monthly financial plans for the next year and annual financial plans for the next five years."

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Definitions:

Typicality Effect

The phenomenon whereby experimental participants are faster to respond to typical instances of a concept (e.g., robin for the concept “bird”) than to atypical instances (e.g., penguin for the concept “bird”).

Cognitive Economy

A principle of hierarchical semantic networks such that properties and facts about a node are stored at the highest level possible. For example, the fact “is alive” would be stored with the node for “animal” rather than stored with each node under animal such as “dog” and “cat.”

Encoding Specificity

A principle of retrieval asserted by Tulving. At the time material is first put into long-term memory, it is encoded in a particular way, depending on the context present at the time. At the time of recall, the person is at a great advantage if the same contextually supplied information available at encoding is once again available.

Connectionism

An approach to cognition emphasizing parallel processing of information through immense networks of interconnected nodes. Models developed in the connectionist tradition are sometimes declared to share certain similarities with the way collections of neurons operate in the brain; hence, some connectionist models are referred to as neural networks.