The first step in the decision-making process is recognition of a problem or opportunity. Select one: O True O False A SWOT analysis enables a firm to develop the best strategies for gaining a competitive advantage. Select one: O-True O False
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- True or False. __________2. Only professionals can do strategic analysis. __________3. There are practical situations that call for the use of intuitive thinking . __________4. While intuitive thinking looks within the “self,” strategic analysis looks beyond it. __________5. There is no good-for-all basis for decision-making.Next, I want you to identify which of the bases for decision-making is described in the following statements. Write SA for strategic analysis and IT for intuitive thinking. __________1. Approximating based on the dictates of the innermost self. __________2. Processing facts and making sense out of them. ______3. Doing a few leaps of thinking before lifting a foot for a step. __________4. Mapping out all possibilities. __________5. Immediately responding to circumstantial stimulus.We typically make decisions by relying on one or more of the following: 1) Our gut instinct. 2) Our experiences. 3) Our education. What is the value of the Business Analytics course in your current or future business area and how will it improve your decision making?
- An effective decision maker spends much time determining the possible scenarios in future. In the light of this statement, define and explain with examples all three approaches on how managers make decisions. Answer this question in not more than 700 words.In your opinion,what is the single major benefit using strategic management approach to decision making?Cite an examples to justify your answer.The decision-making model that best describes the actual day-to-day decision-making activities of real-world managers is the ________ model. Select one: a. administrative b. behavioral c. bounded rationality d. all of the above are correct answers Typically, a plan that encompasses six months to two years is a Select one: a. Strategic plan b. Operational plan c. Tactical plan d. None of the above
- Option D is inccorect! please help In the managerial hierarchy of decision making, _______ is depicted at the top-most level because it occurs first. A. tactics B. iterative planning C. implementation D. strategy28 When managers make decisions that are objective and for the best interest of the firm instead himself/herself, they are following the concept of A) escalation of commitment B) bounded rational decision making C) rational decision making D) intuitive decision making E) none of the aboveThere are many examples of organizations that made decisions based on the analysis of data that was not properly prepared. 1. Identify an instance of this happening and share it with the class. 2. Discuss others' examples with suggestions of how data preparation might have helped the organization avoid problematic analysis and decision-making later on.
- An objective, logical, systematic approach for making major decisions in an organization is a way to describe the strategic-management process Select one: True FalseThe fact that almost everything a manager does involves making decisions doesmean that decisions are always time-consuming, complex, or evident to an outsideobserver Select one: True FalseIdentify an industry that is undergoing intense competition or is being featured in the busines press. Discuss how scenario planning might be used by competitors to prepare for future events. Can some industries benefit more than others from this type of process? Explain why? Note:- Do not provide handwritten solution. Maintain accuracy and quality in your answer. Take care of plagiarism. Answer completely. You will get up vote for sure.