What is Outcome Bias? The outcome bias is an error made in evaluating the quality of a decision when the outcome of that decision is already known.

Opportunistic behavior is an act or behavior of partnership motivated by the maximization of economic self-interest and occasioned loss of the other partners.

Commercial paper is often traded between parties through a process known as negotiation. The commercial paper must meet certain requirements to be negotiable or to be considered a negotiable instrument. This video explains what are the...

Multi-party negotiation is a complex, iterative process involving the exchange of views, ideas and perspectives among a number of parties that might include organizations, groups, regions, countries or individuals within larger entities.

The Learning School of strategy sees strategy creation as an evolving, emergent process that is driven by learning. Specifically, individuals within an organization develop strategy as they experience situations, learn form them, and...

What are the available remedies for breach of sales and lease contracts?

What is the Regret Theory? In decision theory, on making decisions under uncertainty—should information about the best course of action arrive after taking a fixed decision—the human emotional response of regret is often experienced, and...

Reddin 3D or Tri-Dimensional Leadership Model

What is Prospect Theory? The prospect theory says that investors value gains and losses differently, placing more weight on perceived gains versus perceived losses.

This Video Explains Promoting Yourself by Quitting Your Job

What is a Programmed Decision? What is an Unprogrammed Decision? Because managers have limited time and must use that time wisely to be effective, it is important for them to distinguish between decisions that can have structure and...

This Video Explains Process for Arresting a Suspect

Priority Rules for Conflicting Security Interests

This video explains what is a Conflict in Priority between Security Interests in the same Collateral.

In negotiations the principle parties are the decision makers, while the agents are the people who represent the interests of the principal decision makers. In negotiations, you have to know who's sitting at the table. Some of these...

In this video, the teacher explains what a revenue is and when it can be recognized. He gives three scenarios to illustrate the concept and emphasizes that a revenue is earned only when the product or service is delivered or rendered.

the interaction or cooperation of two or more organizations, substances, or other agents to produce a combined effect greater than the sum of their separate effects.

What is Survivorship Bias? Survivorship bias or survival bias is the logical error of concentrating on entities that passed a selection process while overlooking those that did not. This can lead to incorrect conclusions because of...

Strategy is a plan of actions that fit together to reach a clear destination. That destination is dictated by a set of decisions that sets the organization apart from its competitors, derives from the organization's unique...

What is a Stock Vesting Schedule? A vesting schedule is an incentive program for employees that gives them benefits, usually stock options, when they have contractually fulfilled a specified term of employment with the company. The...

What is the Stacey Matrix? It is designed to help understand the factors that contribute to complexity and choose the best management actions to address different degrees of complexity.

What is the Soft System Methodology? Soft systems methodology is an organised way of thinking that's applicable to problematic social situations and in the management of change by using action.

What is the Six Hats Appraoch? "Six Thinking Hats" is a way of investigating an issue from a variety of perspectives, but in a clear, conflict-free way. It can be used by individuals or groups to move outside habitual ways of thinking,...

The 7 Key Challenges of Crisis Leadership, proposed by Boin, 't Hart, and van Esch, is a framework consisting of strategic approaches to managing crisis in a firm.