Elaine, a college professor, needs to select a textbook for an upcoming course. Her time is limited so she plans to review a few books from the many choices and pick an acceptable textbook even though she may not even be reviewing the best book available. What is this strategy called?
A. satisficing
B. brainstorming
C. escalating commitment
D. optimizing
E. devil's advocacy
Answer: A
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Which of the following is the first step in the negotiation process?
A. building the relationship B. preparation C. bidding D. implementation
Years ago, the travel industry was controlled by a few large travel companies that booked holidays, air tickets, bus tickets, and hotels for their customers. However, with the emergence of the internet, smaller travel agencies started mushrooming in the industry and customers started making their own reservations. Which of the following can be inferred from this information?
A. The travel industry changed from a consolidated structure to a fragmented one. B. The bargaining power of buyers in the travel industry has decreased. C. The pricing power of the incumbent firms in the travel industry has increased. D. The structure of the travel industry changed from monopolistic competition to an oligopolistic one.
Note that there is an overlap between the T/F and multiple-choice questions, as some of the T/F statements are used in multiple-choice questions. Multiple Choice: True/False In most corporations, the CFO ranks under the CEO.
Answer the following statement true (T) or false (F)
“Organized beliefs about how ‘we’ differ from ‘they’” is the definition of
A. faulty theories about how the world operates B. faulty theories about ourselves C. faulty theories about other people D. faulty theories about relationships