While taking risky decisions,the most common pitfalls that the managers face include:
A)seeing too many possibilities.
B)holding pessimistic beliefs.
C)not relying on verbal expressions of probability.
D)relying on verbal expressions of probability.
E)relying on the rules of thumb.

Question

Quizplus · Accepted Answer

Managers often rely on verbal expressions of probability given by experts or colleagues without verifying the accuracy of such information. This can lead to overconfidence or underestimation of the risks involved in a decision. It is important to have a systematic approach to assessing probabilities and to gather data to support decision-making.

While Taking Risky Decisions,the Most Common Pitfalls That the Managers