Examlex
Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
cardinals
Decision-making Model
A conceptual framework that outlines the process of making a decision, guiding an individual or group through identifying a problem, generating alternatives, and selecting an option.
Organizational Structure Innovation
The process of redesigning an organization's structure, roles, and processes in innovative ways to adapt to changing environments, improve efficiency, and foster growth.
Process Innovation
Refers to significant improvements in the way an organization conducts its business, aiming to achieve better efficiency, effectiveness, and performance.
Sunk-cost Fallacy
The misconception that one should continue on a course of action because they have already invested resources (time, money, effort), regardless of the current and future costs.
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