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When a businessperson is faced with situation where his or her decision may be influenced by the potential for personal gain it is called?
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Why is weighing costs and benefits useful for decision makers?
Weighing the costs and benefits of a potential decision can help someone see all of the possible outcomes of that decision.
Which term is used to describe a situation where most consumers are forced to make a decision based on limited resources?
scarcity
How managerial economics is related to the decision making?
In managerial economics, managers in depth analyze all the economic situation of the country. After the in depth analysis they take the decisions. In this way economics is integrated with decision making.
What do decision makers hope to gain from analyzing economic data and forecasts?
By analyzing economic data and forecasts, decision makers should be able to recognize and identify potential opportunities and threats linked to economic changes and developments.
Advantages and disadvantages of national competitive bidding?
ensuring fairness to potential providers improving decision making by considering a range of potential purchasing options. identifying new potential providers assisting to establish reasonable prices for services using competition to improving the efficiency and quality of service for clients
Which of these situations best represents how social psychologists use the term situationism?
Robert is making a decision and is influenced by the feelings of those around him and the situation. SDT
Which of the situations best represent how social psychologists use the term situationism?
Robert is making a decision and is influenced by the feelings of those around him and the situation. SDT
In your previous experience describe how you influenced senior management in an important decision for the organization?
In your previous experience, describe how you influenced senior management in an important decision for the organization.
Was dropping the bomb influenced by racism?
No. Dropping the bomb was an entirely politically- and militarily-influenced decision.
What is the framing effect?
It is a decision bias influenced by the way in which a problem or decision alternative is phrased or presented. (GeBacalla)
What is the path taken in a DRG decision tree influenced by?
The OR Procedure
What is non program decision?
Non programming decision is the decision which has to be taken in any situation which is necessary which is not already predefined.
What the different between wrong decision and bad decision?
a wrong decision is either incorrect, immoral or illegal ,a bad decision, is more foolish or inappropriate for the situation
What is Vroom and Jago's decision making style when is influenced by subordinates?
Vroom and Jago's decision-making style when influenced by subordinates is known as "participative" or "consultative." This style involves leaders seeking input and feedback from their team members before making a final decision. It values collaboration, input, and buy-in from employees in the decision-making process.
Is there a different between wrong decision and bad decision?
Wrong decision is probably incorrect, unethical, or illegal; on the other hand, bad decision is probably irrational and inappropriate for the situation.
When a problem is stated in a particular way either to focus on the loss or to focus on the gain it can influence the decision an individual makes in the field of psychology this is called?
This is called framing effect in psychology. It refers to how people’s decisions are influenced by how information is presented to them, whether in terms of potential gains or potential losses. People tend to be more risk-averse when options are presented in terms of potential losses, and more risk-seeking when options are presented in terms of potential gains.
Why is weighing costs and benefits useful for decision makers?
Weighing the costs and benefits of a potential decision can help someone see all of the possible outcomes of that decision.
