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Which of the following management philosophies refers to selecting and promoting people based on family ties?
Interlocking Directorates
A situation where the same individuals serve on the boards of directors of multiple companies, creating interconnectedness and potential conflicts of interest.
Antitrust Laws
Legislation (including the Sherman Act and Clayton Act) that prohibits anticompetitive business activities such as price fixing, bid rigging, monopolization, and tying contracts.
Anticompetitive Mergers
Mergers between companies that significantly reduce competition in the market, potentially leading to higher prices and reduced consumer welfare.
Clayton Act
The federal antitrust law of 1914 that strengthened the Sherman Act by making it illegal for firms to engage in certain specified practices including tying contracts, interlocking directorates, and certain forms of price discrimination.
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