Understanding Decision Making Process
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Questions and Answers

What is the primary purpose of decision making?

  • To avoid considering any potential risks or uncertainties
  • To select the best course of action from multiple alternatives (correct)
  • To plan for future events without considering alternatives
  • To make decisions based solely on past experiences

    • Which type of decision-making situation involves complete information and predictable outcomes?

  • Decisions under risk
  • Decisions under uncertainty
  • Decisions under certainty (correct)
  • Non-programmed decisions

    • What are programmed decisions?

  • Decisions made under conditions of complete uncertainty
  • Decisions that involve high levels of risk and unpredictable outcomes
  • Decisions that managers face repeatedly and can be handled using standard procedures (correct)
  • Decisions made without any prior experience or established procedures

    • Which of the following is NOT an example of an uncontrollable external condition that can affect decision making?

    <p>Company policies and procedures</p> Signup and view all the answers

    In which type of decision-making situation can probabilities be assigned to the expected outcomes?

    <p>Decisions under risk</p> Signup and view all the answers

    What is the defining characteristic of non-programmed decisions?

    <p>They are unique situations without well-established procedures</p> Signup and view all the answers

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