What is intuitive decision-making? How does intuition affect the process of making a decision?
What will be an ideal response?
Answer: Intuitive decision making is the process of making decisions on the basis of experience, feelings, and accumulated judgment. Intuitive decision making can complement both rational and bounded rational decision making. A manager who has had experience with a similar type of problem or situation often acts quickly with limited information because of that past experience.
Managers who experienced intense feelings and emotions when making decisions actually achieved higher decision-making performance, especially when they understood their feelings as they were making decisions.
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Which of the following is true of social media?
a. It cannot be compared to traditional advertising in any meaningful way. b. It offers a mass-media method of interacting with customers. c. It has less sophisticated ways of measuring how marketers meet and interact with consumers than traditional advertising. d. It offers more one-to-one ways to meet consumers than traditional marketing media.
What is involved when a life insurance policy has been backdated?
A) Setting a policy's effective date prior to a preexisting condition B) Redating a policy after it has been issued C) Reinstating a lapsed policy D) Making the policy effective on an earlier date than the present