fallacy of composition in business management
The fallacy of composition in business management refers to the mistaken assumption that what is true or beneficial for individual parts of a business or organization will also be true or beneficial for the organization as a whole. It overlooks the complexities and interdependencies within the system, leading to faulty decision-making or incorrect conclusions.
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Related Concepts (21)
- business ethics
- change management
- conflict resolution
- corporate culture
- customer relationship management
- decision-making in business management
- employee motivation
- fallacy of composition
- financial management
- human resource management
- innovation and creativity in business
- leadership styles
- marketing strategies
- organizational behavior
- performance management
- quality management
- risk assessment
- sales management
- strategic planning
- supply chain management
- teamwork and collaboration
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