In Strategic Planning,managers Consider the Organization as a Total Unit

question 10

Multiple Choice

In strategic planning,managers consider the organization as a total unit and ask themselves what must be done in the long term,which is usually ________.

• A)three to five years into the future
• B)in the coming year
• C)one to two years into the future
• D)five to ten years from now
• E)five to twenty years from now

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Definitions:

Maximizing

The strategy of seeking the best possible outcome or the highest possible utility when making a decision.

Availability Heuristic

A cognitive bias that causes people to overestimate the probability of events associated with memorable or vivid examples.

Satisficing

A decision-making strategy that entails selecting the first option that meets a minimum set of criteria, rather than optimizing.

Heuristic

Cognitive shortcuts or rules of thumb that simplify decision making, often at the expense of accuracy or completeness.