The rational decision making model begins with:
A. evaluating alternatives.
B. identifying an opportunity.
C. searching for alternatives.
D. implementing the solution.
E. searching for information about outcomes to each alternative.
B. identifying an opportunity.
The first step is to identify the problem or recognize an opportunity. A problem is a deviation
between the current and the desired situation—the gap between ''what is'' and ''what ought to be'' This deviation is a symptom of more fundamental causes that need to be corrected. The ''ought to be'' in problem identification represents goals, and these goals later help evaluate the selected choice. An opportunity is a deviation between current expectations and a potentially better situation that was not previously expected.
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Financial leverage refers to the issuance of stock to raise cash
Indicate whether the statement is true or false
The master schedule ______.
a. is essential for only some operations planning and control decisions b. sets the production quantities required to meet demand from every possible source in an organization c. identifies areas where new features can be added to a product d. identifies new markets for existing products
Over the past two decades, political risk has become:
A. an area closely watched by developing countries, but virtually ignored by developed countries. B. a less pervasive, minor threat faced by international management. C. a vital area for multinational companies (MNCs) to manage. D. virtually obsolete for international firms as a result of controls imposed by the United Nations.
When functions are nested, the ____ function is solved last
a. multiple-row b. single-row c. inner d. outer