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.

---

Definitions:

Institutionalization

The process by which practices and activities become established norms or standards within an organization or society.

Resist Change

The resistance to alter established habits, processes, or structures within an individual or group context.

Institutionalize

To establish something as a norm or standard in an organization or culture, often referring to the process of embedding practices, beliefs, or systems within an institution.

Transformational Leaders

Leaders who inspire and motivate followers to exceed their own self-interests for the good of the organization, and to achieve higher levels of achievement.