Due to Budget Restrictions,a Business School Could Afford to Hire

question 7

Multiple Choice

Due to budget restrictions,a business school could afford to hire only one new faculty member for the next academic year.However,the school needed additional faculty members in both finance and marketing.Two hours into a heated meeting with the department chairpersons,the dean excused herself saying she had another meeting to attend to.What conflict management style did the dean use?

• A)Avoidance
• B)Compromise
• C)Collaboration
• D)Competition
• E)Accommodation

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Definitions:

Income Potential

The maximum earnings possible for a person or entity, considering various factors like skills, market demand, and economic conditions.

Expected Value

The anticipated value of a variable, computed as the sum of all possible values each multiplied by the probability of its occurrence.

Fair Bet

A betting proposition where the expected gains or losses are theoretically equal, implying no advantage to either side.

Zero Sum Game

A situation in-game theory where one participant's gain or loss is exactly balanced by the losses or gains of the other participants.