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Question
Tim is the production manager at a steel factory. One of the steel processing machines in the factory has broken down and has to be replaced. Tim decides to buy a new machine from a company that he has read reviews of in industry magazines, even though there are other companies offering a discount on machines with better functionality. This is an example of how managers are constrained by _____.a. bounded rationality
b. escalation of commitment
c. risk propensity
d. groupthink
e. political forces
Answer
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