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Margaret [11]
3 years ago
7

Nicholas, a longtime hotel manager for Wyndham, was meeting with Sophie, a regional manager, and telling her about his recent de

cision not to fire a front desk employee about whom several guests had complained. Nicholas discussed the four stages of the decision process. He said, "I first identified the problem, and then I gathered alternative solutions. I evaluated each choice and selected a solution. I then implemented my decision to not fire the employee but instead to provide him with additional training. Finally, I followed up with an evaluation of the solution I’d chosen." Nicholas is using the ______ process.
Business
2 answers:
timama [110]3 years ago
8 0

Answer:

The correct answer is: rational decision-making model

Explanation:

In the world of management and leadership, decision making is one of the most common, most demanding processes that have a high level of importance to determine the direction of organizations and determine how the processes that will guide the necessary activities will be to meet the objectives set.

Decision-making is fundamentally a choice between different alternatives to solve a problem in the most efficient way possible, but it cannot be taken lightly, so there are several methodologies and several types of decision-making, in this article we will discuss a bit about the "Rational model of decision making".

This model proposed by Herbert Simon is mainly characterized by the use of critical thinking to make decisions within organizations, equally applicable to everyday life. The rational model is simply to evaluate as objectively and sensibly different alternatives, with varied scenarios, causes and future results.

Rzqust [24]3 years ago
7 0

Nicolas is using 'Rational decision making' process.

<u>Explanation: </u>

Rational decision-making is a dual-step process of selecting alternative solutions. The logical decision-making process encourages reasoning, impartiality, and consideration of subjectivity and experience. In this case, the term "fair" doesn't in the philosophical sense imply sound or clear-headed.

This model prefers objective information and a systematic theoretical method on subjectivity and emotion. This model suggests that the choice-maker is well and clearly educated about options, as well as the need to determine every choice against another.

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In 5-10 sentences, answer the Question; What is a Market Economy?
Ulleksa [173]

Answer:

A market economy is an economic system in which the decisions regarding investment, production and distribution are guided by the price signals created by the forces of supply and demand. The major characteristic of a market economy is the existence of factor markets that play a dominant role in the allocation of capital and the factors of production.Market economies range from minimally regulated free-market and laissez-faire systems where state activity is restricted to providing public goods and services and safeguarding private ownership, to interventionist forms where the government plays an active role in correcting market failures and promoting social welfare. State-directed or dirigist economies are those where the state plays a directive role in guiding the overall development of the market through industrial policies or indicative planning—which guides yet does not substitute the market for economic planning—a form sometimes referred to as a mixed economy.

8 0
3 years ago
Which of these options for saving money typically offers the least liquidity?. . A.Savings bond. B.Money market account. C.Certi
zhuklara [117]
Among the following <span>options for saving money that typically offers the least liquidity, (A) Savings Bond is the correct answer. The term that is being referred here which 'least liquidity' means that you or any other person can not withdraw any money at any time they want.</span>
6 0
2 years ago
Read 2 more answers
Julie has just retired. Her company's retirement program has two options as to how retirement benefits can be received. Under th
olchik [2.2K]

Answer:

First option will be recommended.

Explanation:

To determine which option to be taken, we calculate the net present value each option generates. The option generating higher NPV should be recommended.

- Net present value of first option = Lump sum receipt = $150,000.

- Net present value of second option will be found by discounting cash flows at investing rate 12% and calculated as followed:

 +  Present value of 20 equal annual payment of $14,000 + Present value of $60,000 paid in 20 years = (14,000/12%) x [ 1 - 1.12^(-20)] + 60,000/1.12^20 = $110,792.

As net present value of the first option is higher than the second option, first option will be recommended.

8 0
3 years ago
Company Earnings per Share Market Value per Share 1 $ 11.00 $ 176.00 2 8.00 78.40 3 6.00 77.40 4 35.00 203.00 Compute the price-
babymother [125]

Answer:

16

9.8

12.90

5.8

Explanation:

The price to earning ratio is a financial metric used to value a company. it compares the price of a stock to the earnings of the stock. the lower the metric is, the higher the valuation of the firm

price to earning ratio = market value per share / earnings

1 = 176/11 = 16

2. 78.40 / 8 = 9.8

3. 77.40 / 6 = 12.90

4. 203/35 = 5.8

3 0
2 years ago
Dake Corporation's relevant range of activity is 3,200 units to 8,000 units. When it produces and sells 5,600 units, its average
Sladkaya [172]

Answer:

$22,780

Explanation:

The computation of the  total amount of indirect manufacturing cost incurred is shown below:

= Variable manufacturing overhead + fixed manufacturing overhead

where,

Variable manufacturing overhead  = Number of units produced × variable manufacturing overhead per unit

= 4,600 units × $1.30

= $5,980

Fixed manufacturing overhead  = Number of units produced and sold × fixed manufacturing overhead per unit

= 5,600 units × $3

= $16,800

So, the total indirect manufacturing cost is

= $5,980 + $16,800

= $22,780

6 0
2 years ago
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