Management Myopia Occurs When Managers

question 28

Multiple Choice

Management myopia occurs when managers

• A)lack motivation to reach their performance targets and in turn find it difficult to motivate subordinates.
• B)limit their focus to short-term profits at the expense of longer-term strategic obligations.
• C)find themselves unable to rise beyond a certain level in the organizational hierarchy.
• D)are promoted beyond their level of competence.
• E)find it hard to progress within an organization due to corporate downsizing or paring of middle management layers.

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Definitions:

Scarce Resources

Natural or man-made assets that are limited in supply, making them valuable for the production of goods and services.

Unlimited Wants

Refers to the insatiable desire of consumers to possess goods and services that provide utility, exceeding the resources available to fulfill them.

Fresh Water

Fresh water is water with a low salt concentration, found in rivers, lakes, streams, and underground aquifers, essential for drinking, agriculture, and industry.

Scarce Resource

A resource that is limited in availability and can be used up or depleted, making it valuable and subject to economic study for optimal use.