Answer:
The question is incomplete, The complete question with options should be;
When Sebastian wrote the contract with BP for over two billion dollars, he included targets for performance that had to be met before a payment would be released. Sebastian was trying to avoid ________bias.
A. overconfidence
B. escalation of commitment
C. sunk-cost
D. framing
E. hindsight
The answer is
B. Escalation of commitment
Explanation:
Escalation of commitment is a human behavior pattern in which an individual or group facing increasingly negative outcomes from a decision, action, or investment regardless continues the behavior instead of changing the course.
It simply means the irrational behaviour of investing additional resources to a project that is failing.
These resources could be time, energy and money that an individual continue to invest into a falling and sinking venture or business
So, in this situation, before releasing the payment, Sebastian ensures that the targets should be met for the performance. He is avoiding the situation of escalation of commitment bias of him continuing to release or invest money into an already failing contract.
Answer: Equal Opportunity and Responsibility.
Explanation: Every successful organization share in common: a common goal they target to achieve, proper coordination, and hierarchy of authority.
In most organizations authority is NOT equal and each individual has their key roles they perform to ensure success is achieved.
There is always a leader or a team of leaders and those following their lead.
Answer: Missionary marketing is indirect selling. The salesperson provides the information about the product and tries to influence the buying decision.
Explanation: This marketing strategy is used to convince a person who is new to the product or has never used the product. The motive is to influence than direct sale. The salesperson is known as Detailer. Here Tender Love is practicing the same marketing strategy.
The type of entry mode is TRADE RELATED ENTRY.
Build operate transfer is a trade related entry mode into international business in which a foreign investor takes up the responsibility for training, designing and constructing an operation and when the operation is completed he hands it over to the buyer and the management of the project will be taken up by those he trained.
