A Danger of Forecasting Discussed in the Text Is That

question 109

Multiple Choice

A danger of forecasting discussed in the text is that

• A)in most cases, the expense of collecting the necessary data exceeds the benefit.
• B)the retrospective nature of forecasting provides little information about the future.
• C)managers may view uncertainty as black and white while ignoring important gray areas.
• D)it can create legal problems for the firm if regulators discover the company is making forecasts.

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Definitions:

Contingency Theories

These are management theories suggesting that the best leadership or management style depends on the circumstances, implying there's no one best way to lead or manage.

Cross-Cultural Differences

The variations in norms, values, beliefs, and practices among people from different cultures or societal backgrounds.

Survey Field Studies

Research methods involving the collection of data from a large number of respondents through questionnaires or interviews to analyze behaviors or attitudes.

Laboratory Experiments

Controlled testing environments in which variables can be manipulated to observe their effects on certain outcomes, often used in scientific and psychological research.