Most of the Tools Used by Top Decision-Makers in the Private-Sector

question 43

True/False

Most of the tools used by top decision-makers in the private-sector corporate world are based upon the central assumption of profit maximization

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Definitions:

Subgoals

Smaller, achievable objectives set as steps toward reaching a larger goal, facilitating problem-solving and task completion.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to mind when evaluating a specific topic, concept, method, or decision.

Representativeness Heuristic

The representativeness heuristic is a cognitive bias where people judge the probability of an event or the likelihood of an object belonging to a category by how much it resembles a typical case.

Heuristics

Cognitive shortcuts or rules of thumb that simplify decision making, often used unconsciously.