A(n)________ Occurs When Decision Makers Think They Know More Than

question 141

Multiple Choice

A(n) ________ occurs when decision makers think they know more than they do or hold unrealistically positive views of themselves and their performance.

• A)anchoring effect
• B)confirmation bias
• C)overconfidence bias
• D)sunk costs error
• E)self-serving bias

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Definitions:

Senior Staff

Employees who hold high-ranking positions within an organization, often responsible for decision-making and strategic planning.

Major Redirection

Significant strategic or operational shifts undertaken by an organization to address changing circumstances, challenges, or opportunities.

Lower-level Employees

Workers who operate at the base of an organizational hierarchy, often performing specific, operational tasks rather than holding managerial or strategic roles.

Dialogue

A conversation between two or more people, aimed at reaching understanding, exchanging ideas, or addressing issues.