Jerry Starts His Own Business Even When He Is Advised

question 76

Multiple Choice

Jerry starts his own business even when he is advised by family and friends that it is not a suitable opportunity.His friends feel that the market is uncertain and a new entry at this juncture is inadvisable.Jerry soon realizes that his friends were right and he should have taken their advice.In spite of himself,he is forced to admit that the market situation is such that it would take more than being a good entrepreneur to survive.Which of the following is Jerry experiencing?

• A)exploitation
• B)anchoring
• C)information bias
• D)illusion of control
• E)reactance

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Definitions:

Henry Mintzberg

A renowned academic and author in the fields of business and management, known for his work on organizational structures, strategy, and management roles.

Managerial Roles

Specific categories of behavior that managers are expected to perform, including interpersonal, informational, and decisional roles.

Katz

Refers to Daniel Katz, an American social psychologist known for his work on organizational psychology, including studies on motivation, leadership, and attitude change.

Managerial Skill

The ability to make business decisions and lead subordinates within a company to meet the organization's objectives.