You are part of a group making a decision about whether it is appropriate to discontinue research on a new drug. This new drug would save lives, but it is uncertain whether you can develop it within a reasonable time frame and at a reasonable cost. Your firm has already spent a small fortune on this drug. You have gathered so much information in preparation to making the decision that you are unable to sort the good information from the superfluous data. Well after you have started trying to make a decision, new information comes to light that implies that the drug may be able to be synthesized much more cheaply than was previously thought. Which error in decision making should your group be especially aware of?
A) anchoring bias
B) overconfidence bias
C) confirmation bias
D) availability bias
E) representative bias
Answer: A
OBE
- When considering stress across cultures which of the following statements is NOT true?
- Today's managers are finding their world is characterized by
- Which of the following is true of the way idea champions do things in the global arena?
- All of the following statements are true of culture change EXCEPT
- People will be more likely to take a passive approach toward change in countries
- Which of the following actions can management take to reshape the organization's culture in creating a learning organization?
- Which is not a strategy for managers to make their firms learning organizations?
- Which of the following is not a characteristic of a learning organization?
- Which of the following is a characteristic of a learning organization? Its employees ________.
- The learning organization draws on which of the following OB concepts?
- Which fundamental problem that is inherent in traditional organizations misdirects management's attention to problem solving rather than creation?
- The learning organization is viewed as a remedy for which of the following problems inherent in traditional organizations?
- Errors that are corrected by modifying the organization's objectives, policies, and standard routines are part of ________.
- _____ involves correcting errors using past routines and present policies.
- Which of the following approaches might a manager consider recommending in order to address the stress arising from an employee's personal life?
- An organization that has developed the continuous capacity to adapt and change is termed a(n) ________.
- Which of the following is NOT an organizational factor that can lower stress levels?
- The pressure of heavy workloads and deadlines can be seen as
- The concern today is
- Which of the following is NOT true of stress?
- One of the main consequences of process reengineering has been that
- When management starts with a clean sheet to rethink the way they create value, they are engaged in
- "Good isn't good enough" is the theme of
- Once an idea is developed, those who actively promote it, build support, overcome resistance and ensure the innovation is implemented are known as
- Innovative organizational cultures are likely to do all of the following EXCEPT