Describe the role of intuition in decision-making.
What will be an ideal response?
Examples should include intuition is when decisions are reached with little
apparent effort, and typically without conscious awareness. Intuition has been described
as follows: “the essence of intuition or intuitive responses is that they are reached with
little apparent effort, and typically without conscious awareness. They involve little or no
conscious deliberation.” Four characteristics comprise intuition: “a (1) nonconscious
process (2) involving holistic associations (3) that are produced rapidly which (4) result
in affectively charged judgments.” Intuition may be a potential means of helping
managers make both fast and accurate decisions. While research on such unconscious
thought processes is new, available evidence supports the idea that intuitive processes
should be considered part of a leader’s decision-making.
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Common law arises when:
A. courts are called upon to resolve disputes for which there is no statute or other source of law establishing a rule. B. constitutional statutes are found to interfere with the freedom of expression. C. the government wishes to encourage certain kinds of investments. D. there are statutes and other sources of law establishing a particular rule and the courts decide to improvise this existing statutory law.
Putting ethics into practice requires not simply decision making, but ________ decision making.
Fill in the blank(s) with the appropriate word(s).
(Present progressive) We _______ for our new shipment of printers from Spectrum Industries
A) were waiting B) are waiting C) will be waiting
Which statement best describes how the cash flow statement differs from the income statement?
A. The income statement records sales and expenses when they happen, not when cash is actually exchanged. The cash flow statement records cash inflows and outflows when they actually occur. B. The income statement records income, as it comes in, while the cash flow statement records cash from sales. C. The income statement keeps track of cash when sales are made. The cash flow statement keeps track of cash after sales are made. D. The cash flow statement also includes the current market value of assets.