The decision-making model that best describes the actual day-to-day decision-making activities of real-world managers is the ________ model
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- Identify the statement which is TRUE regarding decision making. a. Managers should use only ready-made solutions all the time. b. Managers should not use any ready-made solutions at all. c. Managers should rank the solutions according to his personal preferences only. d. Managers should rank the solution according to its advantages and disadvantages.1) A mechanistic structure is highly suitable for an organization operating in an environment with very high levels of uncertainty True False 2) In scenario-based planning, managers focus on various scenarios that present alternative pictures of what the future may look like and how the firm would like to respond to each scenario True False 3) An organization's external environment is defined as everything that exists outside the boundary of the organization and has the potential to affect all or part of the organization. True False22- Identify the statement which is TRUE regarding decision making. a. Managers should use only ready-made solutions all the time. b. Managers should rank the solution according to its advantages and disadvantages. c. Managers should not use any ready-made solutions at all. d. Managers should rank the solutions according to his personal preferences only.
- 1) Strategic planning sometimes refers to strategy formulation. * True False 2) Intuition is based on past experiences and certainty. * True False 3) A firm evaluating the appropriateness of its business and the latest technological tools is considered as a firm adapting to change. * True False 4) CEO, president, and owner of a firm are also known as strategists. * True False 5) In order to evaluate internal and external factors, some parameters such as numbers, percentages, ratios, and quantification should be used. * True False 6) Policies refer to the means through which strategies will be attained. * True FalseLists the 7 steps generally used in decision-making in applying management science tools. Give complete examples to each step. Requirement: The examples should be a case problems or a scenarioFor nonprofits that rely on government spending, uncertainty in government decision making might cause them to experience funding cuts for social programs or spending caps. True or False? A. True B. False
- There are universally five functions of any business which are Planning, Organizing, Staffing, Directing and Controlling. Among these five functions, the most integral is the Planning function. What are some of the factors that affect the Plannig function. Explain in detail any three of these factors.Read the following case carefully and answer the questions following it. Bob works hard at his job, but he hasn’t got a raise in a couple of years. He feels he deserves one and he has decided to approach his boss to ask for it. Bob’s boss, Mike, is a “by the numbers” guy. He is very focused on using statistics to judge how productive people are in the company. Bob knows this because he is required to turn in various statistical data to Mike regularly. Moreover, Mike is impulsive and short tempered.Bob is in a dilemma about how to communicate his mind to Mike as a consequence of which he cannot focus on his work. His first instinct is to have a meeting with Mike and tell him about how badly he needs the raise. He was going to tell him how he needs to put away more money for his kids’ college funds and to pay for a new car. But then remembering Mike’s impulsiveness he decides not to ask for a raise at all. a. Describe the communication barriers in the above case study. b. Do you agree…Provide an example of a business decision where business analytics should always be used and justify your answer. Are there any critical resource requirements needed to support business analytics in this situation? What if these requirements can't be met?
- Need answer fast - In a decision problem under uncertainty where Return-On-Investment (ROI) is the objective pursued, valid decision criteria are (check all that applies) (a) Maximin Regret (b) Minimin (c) Maximax (d) Minimax.all of the following are advantages to using groups EXCEPT a. Decisions can be reached faster since more people are working on the problem b. There are more approaches to a problem, leading to more creative problem solving c. There is more knowledge and information in a group d. People are more committed to the result when they join in the decision‑making processGoal congruence is (CPA Adapted) The desire and the commitment to achieve a specific goal The extent to which individuals have the authority to make decisions O The extent of the attempt to accomplish a specific goal O The sharing of goals by supervisors and subordinates