Diversified Public Corporations,such as Berkshire Hathaway and Virgin Group,create Value

question 85

True/False

Diversified public corporations,such as Berkshire Hathaway and Virgin Group,create value through management expertise by improving plans and budgets.This is an example of a related diversification strategy.

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Definitions:

Dramatically Affect

Refers to having a profound or significant impact on something.

Representativeness Heuristic

A mental shortcut that involves judging the likelihood of an event by comparing it to an existing prototype in our minds.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a given person's mind when evaluating a specific topic or decision.

Compensatory Decision Modeling

This is an approach in decision-making research that assumes individuals compensate for weaker aspects of one option with stronger aspects of another when making complex choices.