Examlex
What is meant by bounded rationality and satisficing?
Resources-Based View
A strategic framework that emphasizes the importance of internal capabilities and resources in gaining competitive advantage.
Competitive Advantage
The attribute that allows an organization to outperform its competitors, often through unique resources, capabilities, or positioning.
Transactional Activity
Transactional Activity refers to the routine, day-to-day operations and transactions within an organization, such as payroll processing and record-keeping.
Human Capital
The value of an individual’s competencies and capabilities, which is considered an asset to an organization’s performance and efficiency.
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