The Nominal Group Technique Is an Objective Way to Achieve

question 18

True/False

The nominal group technique is an objective way to achieve consensus on ideas, and is both easy and efficient.

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Definitions:

Moral Hazard

The risk that one party to an agreement can change their behavior to the detriment of another after the transaction has taken place, often due to asymmetrical information.

Bonded

indicates a state of being secured by a bond, involving a financial guarantee or protection against losses.

Shirking

The act of avoiding or neglecting responsibilities, especially in the workplace, leading to reduced productivity or performance.

Incentive Contracts

Contracts that provide rewards for performance above a certain standard, encouraging higher levels of effort or achievement.