A Guiding Force Behind Top Management's Decisions Should Be What

question 66

Multiple Choice

A guiding force behind top management's decisions should be what?

• A) Owner's goal statement
• B) Bylaws
• C) Principles statement
• D) Mission statement

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Definitions:

Underestimate

To assess something or someone as less in quantity, value, or importance than is actually the case.

Over-precision

The tendency to be too confident in one's own judgments, estimates, or predictions, often leading to errors or miscalculations.

Law Of Small Numbers

Tendency to overstate the probability that a certain event will occur when faced with relatively little information.

Anchoring

A cognitive bias in decision making where an individual relies too heavily on an initial piece of information to make subsequent judgments.