On-Time Deliveries May Give a Firm a Competitive Edge

question 173

True/False

On-time deliveries may give a firm a competitive edge.

Recognize the importance and characteristics of applied research in psychology.

Identify and describe psychological concepts such as hindsight bias, the placebo effect, and overconfidence.

Distinguish between the academic qualifications and professional activities of psychologists and psychiatrists.

Understand the role of intuition and systematic bias in human cognition and decision-making.

---

Definitions:

Competitive Advantage

A condition or circumstance that puts a company in a favorable or superior business position compared to its competitors.

Ethnocentrism

The tendency to judge other groups according to the standards, behaviors, and customs of one’s own group.

Decoding

Extracting the idea from a message.

Receivers

The audience or entity that receives and interprets a message or information from a sender.