Which management bias is this an example? - ProProfs Discuss
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Which management bias is this an example?

Finance managers at Big Bend Inc. made a financial blunder when they solely looked at the previous year’s sales to estimate sales for the coming year.

Asked by Madisonrogers, Last updated: Mar 29, 2024

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2 Answers

M. Kennedy

M. Kennedy

M. Kennedy
M. Kennedy, Web Content Writer, Denver

Answered Nov 05, 2018

There are some biases in regards to management. At certain points in the year, many businesses require certain workers to create sales report. These sales reports show the CEO or manager what problems there are if the manager can analyze the data correctly. Sometimes, a manager will take only one piece of data and draw conclusion from it or they will use several different pieces of data in but they will include bias that alters the conclusions drawn from the data.

For instance, if there are finance managers at a company known as Big Bend Inc and they made a financial blunder due to only looking at the previous year’s sales instead of looking at other years. Now the managers were being influenced by their initial impressions.

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John Smith

John Smith

John Smith
John Smith

Answered Oct 19, 2016

Being influenced by initial impressions

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