As Managers Move Higher Up Their Career Ladders, Their Jobs

question 18

Multiple Choice

As managers move higher up their career ladders, their jobs are likely to focus more on

• A) sales.
• B) specialized knowledge.
• C) communication.
• D) operations.

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Definitions:

Marginal Analysis

The examination of the benefits and costs of an additional unit of consumption or production to make decisions on allocations of resources.

Risk Aversion

The behavior of preferring to avoid loss rather than making a gain, reflecting a preference for certainty over uncertainty.

Irrational Decision

A choice made that contradicts logical reasoning, often influenced by emotional factors or cognitive biases.

Status Quo Bias

The tendency to avoid making a decision.