The Analysis of Strengths and Weaknesses Focuses on Internal Factors

question 69

True/False

The analysis of strengths and weaknesses focuses on internal factors that give the organization certain advantages and disadvantages in meeting the needs of its target markets.

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Definitions:

Overconfidence

A cognitive bias where an individual overestimates their own ability, knowledge, or control over events.

Opportunity Costs

The cost of forgoing the next best alternative when making a decision, representing the benefits one misses out on when choosing one option over another.

Loss Aversion

Oversensitivity to loss, leading to an unwillingness to recognize a loss and move on.

Mental Accounting

The habit of mentally assigning dollars to different accounts so that some dollars are worth more than others.