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Author Question: Which psychological orientation would be typical of a manager who is pessimistic about her business ... (Read 69 times)

Bob-Dole

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on: Jul 6, 2018
Which psychological orientation would be typical of a manager who is pessimistic about her business environment?
 
  A) a maximin orientation
  B) a minimin orientation
  C) a maximax orientation
  D) a minimax orientation

Question 2

A manager is worried that if he chooses the wrong investment strategy, his company could lose out on a great deal of money. Which strategy should he follow?
 
  A) a maximax orientation
  B) a minimin orientation
  C) a maximin orientation
  D) a minimax orientation
Fundamentals of Management: Essential Concepts and Applications ¦ Robbins, Coulter, De Cenzo ¦ 10th Edition
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deja

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Reply #1 on: Jul 6, 2018
Answer to Question 1

Answer: A
Explanation: A pessimistic manager wants to minimize her payoff. She is uncertain about the outcome of her effort, so she strives to maximize the minimum return she can get for her investment. This maximum possible minimum payoff corresponds to a maximin orientation.

Answer to Question 2

Answer: D
Explanation: The manager is worried about regretthe amount of money that could have been made had he chosen a different strategy. To minimize regret, the manager should choose a minimax strategy that minimizes the maximum amount of regret he can experience.


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