Question 1 In the Five Forces Model, when the barriers to enter into the industry are __________, the more likely it is that industry profits will be __________.Answer low; high low; low high; low high; high4 points Question 2 GE Financial Services is an example of which level of management operations for General Electric Company?Answer Functional Corporate Divisional Departmental Unit4 points Question 3 When managers cannot assign probabilities of future occurrence to possible alternatives to a decision, this is known as __________.Answer certainty risk bounded rationality uncertainty dialectical inquiry4 points Question 4 When an organization enters a new type of industry that is not similar in any way to the current businesses of the organization, this is known as a(n) ____________ strategy.Answer concentration on a single business unrelated diversification international expansion related diversification vertical integration4 points Question 5 When a manager makes a decision based on a generalization from a very small sample of information, this is known as:Answer dialectical inquiry. systematic errors. devil’s advocacy. representative bias. the illusion of control.4 points Question 6 According to the administrative model of decision making, if managers cannot possibly specify all of the possible alternatives to a decision, this is the result of:Answer incomplete information. bounded rationality. an optimum decision. brainstorming.4 points Question 7 The explosion of the space shuttle Challenger is an example of poor managerial decision-making wherein managers neglected the criterion of __________.Answer ethicalness practicality legality economic feasibility devil’s advocacy4 points Question 8 In the classical model of decision-making, the most appropriate decision given the likely future consequences to the organization is known as the ______________ decision.Answer intuitive creative heuristic obvious optimum4 points Question 9 When the information available to a manager is incomplete because the manager must make a decision quickly, this is known as:Answer bounded rationality. devil’s advocacy. dialectical inquiry. a time constraint. an information cost.4 points Question 10 In the Five Forces Model, the type of competitive activity that exists between organizations is known as the:Answer potential for entry into the industry. threat of substitute products. power of customers. level of rivalry. power of suppliers.4 points