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blagie [28]
4 years ago
7

Three of the steps in management's decision-making process are: (1) Review results of decision, (2) Determine and evaluate possi

ble courses of action, and (3) make the decision. The steps are performed in the following order:
Business
1 answer:
Hitman42 [59]4 years ago
6 0

Decision Making Process refers to the technique of considering the best alternative/action plan that is  available and then further  using which a decision is taken or the management arrives at a decision

Explanation:

The Three most important steps of a decision making process are:

(2) <u>Determine and evaluate possible courses of action:</u>During the process of decision making all the possible course of action/all  the action plans are evaluated by the management

<u>(3) make the decision: </u>After the evaluation of  all the action plans the best action plan is chosen and then the decision is taken keeping in mind the action plan that is considered

<u>1) Review results of decision:</u>The outcome of the decision is reviewed in order to find out the shortcomings of the decision making process.

In case,a shortcoming is found then the whole process of decision making is renewed

You might be interested in
According to the Security Risk Management: Building an Information Security Risk Management Program From the Ground Up textbook,
Minchanka [31]

Answer with Explanation:

<u>Risk which can’t be mitigated</u>: The risks that the share price would fall due to sudden political environment instability or events that effects the economy will definitely affect the business operations as well. Thus are the risks that can not be mitigated at all. Another example would be Corona virus implications on the operation of the company which is again a risk that can't be mitigated.

<u>Risks, that aren’t worth the effort to reduce the exposure any further: </u>

The part of the sentence talks about the risk exposure which says that if the company doesn't resides in an area which is not prone to seismic activity and the chances of earthquake in a country is below 0.000001% which is almost negligible but still it is worthless to purchase the earthquake insurance. As this risk is almost negligible hence it is not worth the effort to reduce the exposure any further.

<u>Risks that wouldn't be addressed in short term due to other priorities: </u>

The risks that will not occur in the next 12 month, can be addressed after 6 months and thus allowing the company to prioritize the risks that must be resolved first. This means that if their is a risk that one of our several products that would be launched after 12 months from now will not be winning customer market can be addressed after 6 months because it is dependent on our future action. If we don't launch our product, our product is not rejected by the customer. Hence situations like this allows us to prioritize our risks.

5 0
3 years ago
If lucinda has only $18 to spend and the price of kewpie dolls and the price of beanie babies are both $6, how many of each woul
Step2247 [10]
<span>Lucinda could buy either 2 kewpie dolls and 1 beanie baby, or 1 beanie baby and 2 kewpie dolls at $6 a piece if she has $18. Rationally, Lucinda would want at least one of each toy. Whether she went with the first or second option the amount she would spend would be as follows: $6Ă—3 toys=$18.</span>
6 0
4 years ago
. Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant a
Angelina_Jolie [31]

Answer:

(a) 1,078.12  copies

(b) 6.68 runs per year

(c) 37.43 days

(d) 10.78 days

(e) 767.62  copies

(f) $2,003.48

(g) 432 copies

Explanation:

Given that,

Annual demand (D) = 7200 copies

Cost of the book (C) = $14.50

Holding cost (H) = 18% of cost of book = 18% of $14.50

                           = $2.61

Setup costs (S) = $150

Annual production volume = 25,000 copies

Number of working days = 250

Lead time (L) = 15 days

Daily demand (d) = Annual demand ÷ Number of working days

                            = 7200 ÷ 250

                            = 28.8 copies

Daily production (p) = Annual production ÷ Number of working days

                                 = 25000 ÷ 250

                                 = 100 copies

(a) Minimum cost production lot size (Q):

Q=\sqrt{\frac{2\times D\times S}{H\times (1-\frac{d}{p})}}

Q=\sqrt{\frac{2\times 7,200\times 150}{2.61\times (1-\frac{28.8}{100})}}

Q = 1,078.12  copies

(b) Number of production runs:

= Annual demand (D) ÷ Production quantity (Q)

= 7,200 ÷ 1,078.12

= 6.68 runs per year

(c) Cycle time:

= Production quantity (Q) ÷ Daily demand (d)

= 1,078.12 ÷ 28.8

= 37.43 days

(d) Length of a production run:

= Production quantity (Q) ÷ Daily production (p)

= 1,078.12 ÷ 100

= 10.78 days

(e) Maximum inventory (Imax):

= Q × (1 - d÷p)

= 1,078.12 × (1 - 28.8 ÷ 100)

= 767.62  copies

(f) Total annual cost:

= Annual holding cost + Annual setup cost

=  [(Q ÷ 2) × H × (1 - d÷ p)] +  [(D ÷ Q) × S]

=  [(1,078.12 ÷ 2) × $2.61 × (1 - 28.8 ÷ 100)] +  [(7,200 ÷ 1,078.12) × $150]

= $1,001.74 + $1,001.74

= $2,003.48

(g) Reorder point:

= Daily demand × Lead time

= 28.8 × 15

= 432 copies

8 0
3 years ago
Read 2 more answers
Firms HD and LD are identical except for their level of debt and the interest rates they pay on debt—HD has more debt and pays a
Luden [163]

Answer:

2.41%

Explanation:

The difference between the two firms' ROEs is shown below:-

Particulars          Firm HD                             Firm LD

Assets $200      Debt ratio 50%            Debt ratio 30%

EBIT $40            Interest rate 12%          Interest rate 10%

Tax rate 35%

Debt                            $100                              $60

Interest                        $12                                  $6

                          ($100 × 12%)                       ($60 × 10%)      

Taxable income         $28                                 $36

                               ($40- $12)                          ($40 - $6)

Net income                $18.2                                $22.1

                       $28 × (1 - 0.35)                     $36 × (1 - 0.35)

Equity                          $100                                $140

                              ($200 - $100)                   ($200 - $60)

ROE                              18.2%                               15.79%

                           ($18.2 ÷ $100)                   ($22.1 ÷ $140)

Taxable income = EBIT - Interest

Net income = Income - Taxable income

Equity = Assets - Debt

ROE = Net income ÷ Equity

Difference in ROE = ROE Firm HD - ROE Firm LD

= 18.2% - 15.79%

= 2.41%

So, for computing the difference between the two firms' ROEs we simply deduct the ROE firm LD from ROE firm HD.

3 0
3 years ago
Whenever Congress has a perceived need for ongoing control of an economic activity, it has tended to create a a. regulatory agen
RUDIKE [14]

Whenever Congress has a perceived need for ongoing control of economic activity, it has tended to create a cabinet department.

The Vice President and the secretaries of agriculture, commerce, defense, education, energy, health and human services, homeland security, housing and urban development, interior, labor, state, transportation, and veterans affairs make up the cabinet. Cabinets come in three varieties: inset, full overlay, and partial overlay. Each phrase refers to the way a cabinet door or drawer rests against or inside a cabinet frame. The three varieties of cabinets also stand for various price ranges and fashion trends. Such a division is frequently referred to as the Prime Minister's Office. Various other nations have cabinet offices.

The Prime Minister's Office is a division of the Cabinet Office in the United Kingdom; a similar division exists in Australia and New Zealand.

Learn more about Congress here: brainly.com/question/491441

#SPJ4

7 0
1 year ago
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