Business Decision Making Questions
Not what you're looking for?
The steps in management's decision-making process are listed in random order below. Indicate the order in which steps should be executed.
Please see attached document for details and more questions.
Purchase this Solution
Solution Summary
The following posting discusses the management's decision-making processes.
Solution Preview
Dear student,
Solutions attached and all workings shown.
Thanks.
1. The steps in management's decision-making process are listed in random order below. Indicate the order in which steps should be executed.
___ Make a Decision
___ Review results of the decision
___ identify the problem and assign responsibility.
___Determine and evaluate possible courses of action.
Solution:
I) Identify the problem and assign responsibility
II) Determine and evaluate possible courses of action
III) Make a Decision
IV) Review results of the decision
2. Bogart Company is considering two alternatives. Alternative A will have revenues of $ 160,000 and cost of $ 100,000. Alternate B will have revenues of $ 180,000 and costs of $ 125,000. Compare Alternative A with Alternative B showing incremental revenues, costs, and net income.
(see attached file for chart)
Therefore, A is preferred as it has the highest net income. The company will earn an incremental net income of $45,000 if it chooses A over B.
3. Ortega has made the following statements about decision making and incremental analysis. Identify true or false, and if false correct the statement.
__ The first step in management's decision making process is, "Determine and evaluate possible courses of actions". False. The first step in the management decision making process is the identification of problem and assignment of responsibility.
__ The final step in management's decision making process is to actually make the decision. False. The final step in the ...
Education
- MPhil, Madurai Kamaraj University
- MCom, Annamalai University
- IATA, International Air Transport Association
Recent Feedback
- "Great explanations on how the answers were obtained."
- "Love the way she explains everything step by step."
- "Solutions were thoroughly explained."
- "Excellent explanations of how problems are solved"
- "Thanks"
Purchase this Solution
Free BrainMass Quizzes
IPOs
This Quiz is compiled of questions that pertain to IPOs (Initial Public Offerings)
Writing Business Plans
This quiz will test your understanding of how to write good business plans, the usual components of a good plan, purposes, terms, and writing style tips.
Understanding Management
This quiz will help you understand the dimensions of employee diversity as well as how to manage a culturally diverse workforce.
Operations Management
This quiz tests a student's knowledge about Operations Management
Learning Lean
This quiz will help you understand the basic concepts of Lean.