Decision making under uncertainty where different outcomes are possible with different probabilities form the basis of risky decision making.
Before going any further, it is important to establish the distinction between risk and uncertainty because the two are frequently confused. We went into great detail about the distinctions between risk and uncertainty. Making Decisions in an Uncertain World Even though we are aware that outcomes are unpredictable, we don't try to give them probabilities.
The components of risky decision include:
A risk assessment process, determination of the likelihood and probability of a risk occurrence and its consequences (qualitatively and quantitatively), as well as risk characteristics and factors including its onset and duration, Risky decisions (prioritization, mitigation, and treatment), a risk representation system (risk matrix or heat map).
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Answer: Self Managed Team.
Explanation:
Sean can divide his employees into different self managed teams, this would enable his company to solve more problems within a short period. A self managed team is a team given a certain amount of freedom to carry out tasks, solve problems and give report about their activities to their manager.
A solution that will help in the agency problem in terms of
publiclyminus – held corporations is by through having bonuses in the company
or organization that will be based on primarily the short term results that
they have acquired in the company.
Answer: It could take take few decades.
Just like the question, the answer is brief and concise and does not require explanation.
It makes it hard for you to be a functioning citizen in the world and also makes your economical issues much worse.