Justifying Past Decisions Is a Common Bias of Managers

question 26

True/False

Justifying past decisions is a common bias of managers.

Recognize the significance of cultural distance and its effects on international business operations.

Describe the influence of generational differences on work values and attitudes.

Comprehend the concepts of tight and loose cultures and their implications for organizational behavior.

Evaluate the challenges of working in or with different cultures in terms of negotiations, mergers, and partnerships.

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Definitions:

Diversification

A strategy of investing in a variety of assets to reduce exposure to any single asset or risk.

Different Business Area

Various sectors or divisions within a business environment that each focus on distinct operational or market-related activities.

Concentration

The action of focusing one’s attention or mental effort on a specific object, task, or activity without getting distracted.

Fast Food Chain

A business that serves quick service food across multiple outlets, focusing on convenience, speed, and consistency.