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Business
Strategic Analysis and Action
Quiz 9: Strategic Choice
Errors in Judgment with Respect to Decision Making Are the Result
Question 16
Multiple Choice
Errors in judgment with respect to decision making are the result of A) a perspective shift B) inexperience C) cultural norms D) cognitive biases
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Related questions
Q 17
Including sunk costs when analyzing the merits of strategic options is an example of a managerial bias known as A) overconfidence B) representativeness C) framing D) escalation of commitment
Q 18
A tendency to seek information that confirms what the management believes to be true is a bias referred to as A) confirmatory B) framing C) availability D) anchoring
Q 19
One of ways of limiting cognitive biases is to A) ask lots of questions B) restrict the amount of time spent on data collection C) accept that events which are concurrent are probably related D) count on the capabilities of the senior management team
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