ero-risk bias - preferring the choice that provides certainty of a smaller benefit as opposed to an
alternative with more risk and greater potential benefit
example: search committees may seek to avoid risk by hiring a "safer" candidate with a
greater perceived likelihood of success rather than ...
BUSN 4650 Exam Questions & 100%
Solutions (Verified Answers)
zero-risk bias - ✔✔preferring the choice that provides certainty of a smaller benefit as opposed to an
alternative with more risk and greater potential benefit
example: search committees may seek to avoid risk by hiring a "safer" candidate with a
greater perceived likelihood of success rather than taking a reasonable amount of risk
the Caste System involves three types of discrimination: - ✔✔class, ethnic, national origin
IBM - ✔✔- has a history of progressiveness and promoting equal rights
- Gerstner felt that IBM's Senior Executive Team didn't reflect the diversity of its customers or
even workplace, "color blind" strategy
- IBM initiative: eight task forces focused on a different group to uncover and understand differences
among the groups and find ways to appeal to a broader set of employees and customers, market-based.
each task force composed of 15-20 senior managers from a certain demographic
daughter effect - ✔✔venture capitalists that had an increased proportion of female
partners (because they had daughters) were almost 10% more profitable
The majority of women who leave the work force ("off ramping") - ✔✔expect to reenter
the workforce
The majority of men who leave the work force ("off ramping") - ✔✔do so for "strategic reasons" such
as switching careers or receiving more training
Sunk Cost Fallacy - ✔✔the idea that you need to get your money's worth so you don't want to abandon
your actions because you invested heavily in it, but abandonment would be more beneficial.
Example: you buy a pizza and you hate it but you feel like you have to finish it because you spent $20
, Prospect Theory - ✔✔perceived gains are weighted more than perceived losses, why gambling
is addicting
Hot Hand Fallacy - ✔✔we tend to believe that a successful streak is likely to lead to further success
Example: when you're gambling and its been black five times so you bet everything that its red when
really its still a 50% chance
System I Thinking v. System II Thinking - ✔✔System I: quick, automatic, intuitive and
reflexive thinking
System II: when one is actively considering and deliberating a decision
What percent of our thinking is System I thinking? - ✔✔95%
six steps of cultivating cultural intelligence - ✔✔1. examine your strengths and weaknesses
2. focus on weaknesses
3. low stakes practice (greeting shop keepers)
4. assess resources
5. emphasize strengths
6. reevaluate
stakeholder model - ✔✔a corporation can act in the best interest of community members,
partners, and other actors who rely on the corporation even if it's not in the corporation's best interest
stakeholder model was popularized by - ✔✔Europe
difference between stakeholder and shareholder model - ✔✔shareholder model is just the
owners, stakeholder model includes a whole range of people who contribute not just owners
social benefit corporations - ✔✔allow directives to achieve social missions
Examples: Toms, Patagonia, Ben & Jerry's
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