Examlex
Using the RGT framework, which of the following strategies applies to a business that offers products and services faster and cheaper than the competition?
Underestimating
Underestimating refers to the act of evaluating something as less powerful, important, or serious than it actually is, which can lead to miscalculations in finance and planning.
Anchoring And Adjustment
A cognitive heuristic where individuals rely too heavily on an initial piece of information (anchor) when making decisions, adjusting insufficiently from that anchor.
Frame Dependence
The tendency of individuals to make different (and potentially inconsistent) decisions depending on how a question or problem is framed.
Aversion To Ambiguity
A preference to avoid uncertain or ambiguous situations, often reflected in decision-making processes.
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