When It Comes to Strategic Planning, Most Small Firms

question 48

Multiple Choice

When it comes to strategic planning, most small firms

• A) do quite well.
• B) survive and prosper.
• C) realize cost savings, accurate forecasting, and increased sales.
• D) really do not engage in True strategic planning.

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Definitions:

Framing Error

A mistake made when the context or way in which information is presented leads to incorrect conclusions or decisions.

Positive Or Negative Context

The environment or circumstances that can influence the interpretation or outcome of an action or decision as favorable or unfavorable.

Representativeness Bias

A cognitive bias where an individual inaccurately assesses the likelihood of an event based on how closely it matches their preconceived stereotypes.

Group Is Aggressive

A situation where a collective behaves in a forceful or assertive manner, often to achieve a common goal.