Pat Is the Manager of a Large Project That Has

question 25

Multiple Choice

Pat is the manager of a large project that has been underway for the last eight months.It has now become apparent that, due to various external factors, the project is unlikely to succeed.Even though the best option would be to withdraw from the project, Pat continues to pump money and resources into it in the hope that the project's prospects will change.He reasons that he doesn't want all those months of hard work to go to waste.This is an example of the ________.

• A) availability bias
• B) hindsight bias
• C) sunk costs error
• D) self-serving bias

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Definitions:

Shared Values

Fundamental beliefs and ethical principles that are held in common by members of a group, organization, or society, serving as a basis for unity and decision-making.

Ethics Audit

A systematic evaluation of an organization's ethical programs and practices, intended to identify strengths and areas for improvement.

Social Audit

The process of evaluating and reporting on an organization's social and ethical performance, typically assessing the impact on stakeholders and the community.

Ethics Audit

A systematic evaluation of an organization's ethics programs and practices, intended to identify potential areas of risk, non-compliance, or weakness in ethical conduct.