0
What else can I help you with?
What is the first step in making a responsible decision?
The first step in making a responsible decision is assessing and evaluating the problem.
Difference between MIS and Decision Making?
Mis helps in planning and controlling in an organisation but decision making means select a single alternative among all possible alternative.
What are the steps of management in a decision implementation plan?
Their are seven basic steps recognized for every decision process.they are as follows 1>Collection of relevant data required in making decision 2>Setting up priorities and objectives 3> Drawing out alternative solutions 4>Assessing and evaluating the data analytically and comparatively 5>Planning for systematic execution of best solution figured from previous step. 6>Implementing accordingly 7>Reviewing the whole process at the end so improvements can be made next time. from-M.S.Dubey
The problem confronting the decision maker is typically referred to as the?
The problem confronting the decision maker is typically referred to as the "decision problem" or "decision-making problem." This encompasses the challenges or uncertainties that require a choice among alternatives to achieve a desired outcome. It involves identifying the issue, assessing available options, and evaluating potential consequences. Effective decision-making often requires analyzing data, considering risks, and aligning choices with strategic goals.
What are the seven D's in decision making?
1.) Define the situation. 2.) Describe and collect needed information. 3.) Develop alternative. 4.) Develop agreement among those involved. 5.) Decide which alternative is best. 6.) Do what is indicated (begin implementation). 7.) Determine whether the decision was a good one, and follow up.
What carefully choosing from a set of alternative to accomplish an object is known as what?
It is known as decision-making. This process involves evaluating different options, considering their consequences, and selecting the most suitable alternative to achieve a specific goal.
The best alternative given up when making a certain decision?
Financial planning - A strategy to save for financial goals. Opportunity cost - The best alternative given up when making a certain decision. Risk aversion - Reluctance for taking chances. Utility - Personal satisfaction gained from consumption.
What techniques shoud be used for evaluating decisions?
What are the tools for evaluating the outcome of a decision
What is the difference between financial accounting and cost and management accounting?
Financial accounting is the preparation of financial statements for decision makers. Cost accounting is collecting, analyzing, summarizing, and evaluating courses of action. Management accounting is simply used to better a company by reviewing the accounting information.
What is financial decision making?
Financial decision making involves evaluating and choosing among various financial options to achieve specific goals, such as maximizing profit, minimizing risk, or ensuring liquidity. It encompasses analyzing financial data, understanding market trends, and considering both short-term and long-term implications of choices. Effective financial decision making is crucial for individuals and organizations to allocate resources wisely and sustain growth. Ultimately, it guides actions related to investments, budgeting, and financing.
When evaluating an investment project which of the following best describes the financial information needed by the decision maker?
how to finance the investments, whether the funds are internally generated, externally sourced or a combination of both
When can use financial projection?
Financial projections can be used when developing a business plan, seeking funding from investors or lenders, making strategic decisions, and evaluating the financial health and performance of a business. They help forecast future financial outcomes based on current data and assumptions, allowing for better planning and decision-making.
What is the thinking region of the brain?
The cerebrum.
How do you determine the opportunity cost of an investment and why is it important to consider in financial decision-making?
Opportunity cost of an investment is the potential benefit that is foregone by choosing one investment option over another. It is important to consider in financial decision-making because it helps in evaluating the best use of resources and making informed choices that maximize returns.
What are decision analysis steps?
Decision analysis typically involves several key steps: first, defining the decision problem and objectives clearly; second, identifying the alternatives available for consideration; third, evaluating the outcomes and uncertainties associated with each alternative, often using quantitative methods; and finally, selecting the best alternative based on the analysis, followed by implementing and monitoring the decision. This structured approach helps in making informed choices while considering risks and trade-offs.
Is the most desirable alternative given up as a result of a decision?
the most desirable alternative given up in a decision
What are the key factors to consider when evaluating the effectiveness of a parent subsidiary relationship?
When evaluating the effectiveness of a parent subsidiary relationship, key factors to consider include communication between the parent and subsidiary, alignment of goals and strategies, financial performance, decision-making processes, and the level of autonomy granted to the subsidiary.
