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In a responsibility accounting system,every person within a company takes responsibility for the performance of every business unit.
Louis Thurstone
An influential American psychologist known for his contributions to psychometrics, including factor analysis and the development of psychological scales.
Anchoring
A cognitive bias where an individual relies too heavily on an initial piece of information (anchor) when making decisions.
Adjustment Heuristic
A rule of thumb where an initial estimate is adjusted based on additional information or analysis.
Cognitive Bias
A systematic pattern of deviation from norm or rationality in judgment, where inferences about other people and situations may be drawn in an illogical fashion.
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