Why Do Managers Often Use Heuristics

question 100

Multiple Choice

Why do managers often use heuristics?

• A)Heuristics eliminate errors and biases.
• B)Heuristics help managers explore all alternatives.
• C)Heuristics simplify decision making.
• D)Heuristics allow managers to identify weaknesses in their decision-making style.

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Definitions:

Specify

To state or describe something clearly and precisely.

Revoke

To officially cancel, withdraw, or annul a decision, order, or agreement.

Impunity

Exemption from punishment or loss or escape from fines in cases where actions could typically result in such consequences.

Joint Tenancy

is a form of property ownership where two or more parties hold equal ownership interests, and the survivor(s) inherit any deceased's share.