Podcast
Play an AI-generated podcast conversation about this lesson
Questions and Answers
What is the primary purpose of decision making?
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?
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?
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?
Which of the following is NOT an example of an uncontrollable external condition that can affect decision making?
Signup and view all the answers
In which type of decision-making situation can probabilities be assigned to the expected outcomes?
In which type of decision-making situation can probabilities be assigned to the expected outcomes?
Signup and view all the answers
What is the defining characteristic of non-programmed decisions?
What is the defining characteristic of non-programmed decisions?
Signup and view all the answers
