What are trade-offs? Why is careful consideration of trade-offs important in decision making?
What will be an ideal response?
When we decide to take an action there are usually consequences of that action and advantages and disadvantages of taking that action. In other words, before we make a decision, we must weigh the pros and cons of that decision. Trade-offs involve weighing of pros and cons regarding a particular decision. For example, if a decision-maker decides to increase the level of inventory, he or she has to consider the trade-off between increased level of customer service and the additional inventory carrying cost.
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What methods of setting advertising budgets are directly based on company revenues? What are the disadvantages of such methods?
What will be an ideal response?
Firms have numerous capabilities, not all of which they perform well. According to the text, _______ are those the firm surpasses its competitors in performing
a. core competencies b. distinctive capabilities c. strategic positioning d. strategies
Currently we have strong artificial intelligence (AI).
Answer the following statement true (T) or false (F)
The decisions of the United States Courts of Appeal, and the precedents they set, make up a significant part of our law
Indicate whether the statement is true or false.