The process by which managers respond to opportunities and threats that confront their organization by analyzing options and taking actions is known as:
A)Heuristics
B)Intuition
C)Decision making
D)Bounded rationality
E)Systematic error

Question

Quizplus · Accepted Answer

The process described in the question is related to decision making, as managers are analyzing options and taking actions based on the opportunities and threats they face. Heuristics and intuition can be involved in decision making, but they are not the process itself. Bounded rationality is a concept that refers to the limitations in the cognitive abilities of decision makers, but it is not the process described in the question. Systematic error is a type of error that can occur in decision making, but it is not the process itself.

The Process by Which Managers Respond to Opportunities and Threats