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2.3.4BM10 flashcards

Scientific vs intuitive management (HL only)

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Card 1 of 102.3.4

2.3.4

Question

Scientific thinking in management uses ___

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All 10 Flashcards — Scientific vs intuitive management (HL only)

Card 1definition

Question

Scientific thinking in management uses ___

Answer

Data, evidence and systematic analysis — objective, evidence-based, reduces bias.

💡 Hint

Data + evidence + systematic

Card 2definition

Question

Intuitive thinking relies on ___

Answer

Experience, gut feeling and instinct — fast but subjective.

💡 Hint

Experience + gut + instinct

Card 3concept

Question

Scientific tools include ___

Answer

Statistics, decision trees, financial ratios, forecasting — quantitative analysis.

💡 Hint

Stats, decision trees, ratios

Card 4concept

Question

Intuitive is best for ___

Answer

Fast, creative, novel situations where data is unavailable or time is limited.

💡 Hint

Fast + creative + novel

Card 5concept

Question

Scientific thinking is best for ___

Answer

High-stakes, complex, repeatable decisions — thorough but slow.

💡 Hint

High-stakes + complex

Card 6concept

Question

Intuitive risk: prone to ___ and ___

Answer

Bias and emotion — hard to justify or replicate decisions.

💡 Hint

Bias + emotion

Card 7example

Question

Steve Jobs example of intuitive management?

Answer

Relied on intuition for product design — believed customers didn't know what they wanted until they saw it.

💡 Hint

Jobs + product design

Card 8example

Question

Scientific example: before launching a product, use ___

Answer

Sales forecasting, break-even analysis and market research.

💡 Hint

Forecast + BE + research

Card 9concept

Question

Scientific advantage: can be ___ and ___

Answer

Replicated and tested — other people can verify the analysis.

💡 Hint

Replicated + tested

Card 10concept

Question

Best managers combine ___ approaches

Answer

Both scientific AND intuitive — data-driven analysis with experienced judgement.

💡 Hint

Both

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Leadership and management

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