Which of the Following Relates to the Perspective That Organizations

question 24

Multiple Choice

Which of the following relates to the perspective that organizations are open systems?

• A)Production and sales employees coordinate their work activities to provide a more efficient work process.
• B)The organization changes its products to suit customer needs.
• C)The organization finds a substitute resource in anticipation of a future shortage of the resource previously used to manufacture the product.
• D)The organization adjusts its services to satisfy changing consumer demand.
• E)All of the answers are correct.

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Definitions:

Financial Wisdom

The knowledge and understanding necessary for making prudent financial decisions, encompassing personal finance, investing, budgeting, and saving strategies.

Representativeness Heuristic

A cognitive shortcut used in decision-making, where the likelihood of an event is judged by how much it resembles existing stereotypes.

Affect Heuristic

The reliance on instinct instead of analysis in making decisions.

Endowment Effect

A cognitive bias in which individuals value an owned object higher than its market value, simply because they own it.