When Business Managers Ignore Risks and Fail to Objectively Evaluate

question 83

Multiple Choice

When business managers ignore risks and fail to objectively evaluate the odds of success for their decisions, it is an example of which of the following psychological biases?

• A) Illusion of control.
• B) Framing effects.
• C) Discounting the future.
• D) Time pressure.
• E) Social realities.

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Definitions:

Liturgical Art

Liturgical art refers to the visual arts used in worship or in the practices and traditions of religious ceremonies.

Sublimation

A defense mechanism in psychoanalytic theory where socially unacceptable impulses or idealizations are transformed into socially acceptable actions or behavior.

Celibacy

The state of abstaining from marriage and sexual relations.

Defense Mechanism

Psychological strategies brought into play by individuals, groups, and even nations to cope with reality and to maintain self-image.