Overall,governance Practices Need to Fit with the Nature of the Industry

question 20

True/False

Overall,governance practices need to fit with the nature of the industry in which firms are competing. This cautions against prescribing universal "best" practices.

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Definitions:

Common Identity

The sense of belonging to a group where members identify with a shared identity beyond their individual differences.

Prisoner's Dilemma

A paradox in decision analysis in which two individuals acting in their own self-interest do not produce the optimal outcome.

Ingroup Bias

The tendency to favor members of one's own group over those from external groups.

Trust

The firm belief in the reliability, truth, ability, or strength of someone or something.