Holding on to the Belief in an Immunity from Thinking

question 165

Multiple Choice

Holding on to the belief in an immunity from thinking errors and biases is known as the

• A)bandwagon fallacy.
• B)either-or fallacy.
• C)not me fallacy.
• D)emotional reasoning fallacy.

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Definitions:

Managerial Controls

Mechanisms or techniques used by management to direct, monitor, and measure the performance of resources and processes towards achieving organizational goals.

Competitive Advantage

Circumstances or factors that place an enterprise at a beneficial or higher standing against its competition.

Focus Strategy

A competitive approach where a firm concentrates its resources on entering or expanding in a narrow market segment to achieve a competitive advantage.

Market Segment

A sub-group of a larger market made up of consumers or organizations with similar characteristics that lead them to have similar product and service needs.