Harry,a Manager at Pine and Acorn Consultancy Makes Most of His

question 57

Multiple Choice

Harry,a manager at Pine and Acorn Consultancy makes most of his decisions based on his emotions and feelings.Which of the following approaches to decision making is Harry following?

• A) The old school approach
• B) The risk-averting approach
• C) The intuitive approach
• D) The satisficing approach
• E) The programmed approach

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Definitions:

Price Leadership

One firm, often the dominant firm in an oligopolistic industry, raises or lowers price, and the other firms quickly match the new price.

Concentration Ratio

A measure used in economics to assess the extent of market concentration by calculating the market share of the largest firms within an industry.

Automobile Imports

Cars and other vehicles brought into a country from abroad for sale, reflecting the trade and economic relations between countries.

Japanese Transplants

Foreign-owned manufacturing plants operated by Japanese companies in another country, typically for automotive production.