When Business Managers Fail to Objectively Evaluate the Odds of Success

question 65

Multiple Choice

When business managers fail to objectively evaluate the odds of success for their decisions and believe that they can influence the events that follow a decision,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:

Unrealistic Deadlines

Time constraints set on a task or project that are unreasonable or unachievable given current resources, capabilities, and conditions.

Coping Skills

Techniques and strategies that individuals use to manage stress and difficult emotions.

Sales Response Function

A model or analysis that predicts the relationship between sales efforts and the resulting sales performance or outcomes.

Territory Formation

The process of assigning sales territories, defining geographic or market-based areas for sales representatives to cover.