I quite agree that managers are unable to make perfectly rational decisions because when making decisions, they typically have incomplete information and can't predict the outcome of their decisions.
- According to Herbert Simon, decisions are made at every level in the organization, and that the decisions affect the output and the prices of goods in the market.
- He further stated that for an individual to make a decision, he must choose between the different alternatives that he has.
- He further questioned the ability of managers to make rational decisions that are considered perfect as he stated that when a manager makes a decision, there are different alternatives that the manager could have chosen from and that the manager may not know if the other alternatives would have been better off.
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Answer:
effective and ineffective behaviors used to create a measure for evaluating
Explanation:
The Behaviorally anchored rating scales (BARS) refer to a scale in which the performance are rated based on good, moderate and poor performance. It analyzed the employee performance throughout the year due to which the appraisal could be done. It is a mix of critical events, narratives gains, ratings i.e quantified
Therefore the given situation represents the effective and ineffective behavior for developing an evaluation
A method that a home inspector uses in report writing.
Answer:
c) lost-horse forecasting.
Explanation:
According to my research on different types of forecasting methods, I can say that based on the information provided within the question the method being used in this situation is called lost-horse forecasting. This refers to using a value as a base, then analyzing all the factors and how they can affect the base value before making a final forecast. This is what the marketing manager is doing by using the known total in 2018 as a base and adjusting for different factors before making a sales forecast for 2021.
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Answer:
This distinction gives rise to two types of opportunity cost--explicit and implicit.
1:Explicit Cost: This is an opportunity cost that involves a money payment and usually a market transaction. ...
2:Implicit Cost: This is an opportunity cost that DOES NOT involve a money payment or market transaction.
