Which Decision-Making Style Should You Utilize When a Decision Has

question 7

Multiple Choice

Which decision-making style should you utilize when a decision has to be made quickly and the task is relatively simple?

• A) participatory
• B) autocratic
• C) consultative
• D) majority rule

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Definitions:

Barriers to Entry

Economic, procedural, or market-based factors that obstruct or restrict the ability of new competitors to enter an industry.

Oligopolistic

Pertaining to a market structure characterized by a small number of firms dominating the market, leading to limited competition.

HHI

Herfindahl-Hirschman Index, a measure of market concentration to assess the level of competition among firms.

Herfindahl-Hirschman Index

An economic indicator used to evaluate the level of competition within an industry by measuring the concentration of market share held by the largest firms.