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3 years ago

What is the first step in the management decision making process

Business

1 answer:

Cloud [144]3 years ago

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Decisions aren't always easy to make it! But The first step in your management decision is:

Identify the decision: The first step of making a decision is Identify the decision because you should define the nature of the decision/you must have clearly in your mind what's it, for after that, follow to the next steps of your management process.

After that, you can follow through to the next steps of a management decision:

Gather relevant information / Identify the alternatives / Weight the evidence / Choose among alternatives / Take actions / Review your decisions and its consequences.

You might be interested in

An income tax rate increase will most likely ____ aggregate demand and _____ aggregate supply.

egoroff_w [7]

Answer: decrease; decrease

Explanation:

Aggregate demand means the total quantity that would be purchased irrespective of the price levels. Aggregate supply means the total quantity of the goods or services which the firms will sell at a price that is given in the economy. So when the income tax rate increases the aggregate demand and aggregate supply of the products will both decrease.

The increase and decrease in the tax rates brings a shift in the aggregate demand and aggregate supply curve. Other factors which influence these curves are interest rates, income , exchange rates and inflation rates.

7 0

3 years ago

St. Nick Corporation's Toy-Making Supplies account showed a beginning balance of $200 and supplies purchased of $800. There were

iragen [17]

Answer:

3. $600

Explanation:

The computation of the amount is shown below:

= Beginning balance of supplies + purchase made - supplies on hand

= $200 + $800 - $400

= $600

The year end increase in toy making supplies expense is $600

The journal entry would be

Supplies expense A/c Dr $600

To supplies A/c $600

(Being supplies account is adjusted)

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3 years ago

There are many biological theories of crime. Which theory addresses issues such as hormones, brain structure, and brain chemistr

nirvana33 [79]

There are many biological theories of crime. Which theory addresses issues such as hormones, brain structure, and brain chemistry to understand why some individuals commit crime?

A.) Biochemistry

The average woman makes 75 cents for every dollar a man makes in the workforce. This statistic would fall under which of the following emergent theories?

C.) Feminist theory

Which major crime is most frequently reported to the police according to the UCR? NIBRS?

D.) Larceny-Theft

Most hate crimes are motivated by

A.) Racial Hatred

In the mid-1700s ____________ wrote nine principles that still guide many of our ideas about criminal justice today.

B.) Cesare Beccaria

The theory of crime that tries to explain criminal behavior by focusing on the mind without considering the influence of the body is

D.) Psychological

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3 years ago

Winners of the Georgia Lotto drawing are given the choice of receiving the winning amount divided equally over 2222 years or as

Wewaii [24]

Answer:

0 i.e. zero

Explanation:

The formula we will us to calculate the cash option payout for formula for calculating the present value (PV) .

Present value (PV) can simply be described as the current value of a future amount or future stream of cash flows given a certain return rate.

To calculate the PV of a future cash flow, we will discount it by using the discount rate.

The formula is provided as follows:

PV = FV/(1 + r)^n ............................................ (1)

Where,

PV = Present Value = ?

r = discount rate = 66% = 0.66

FV = annual future value = $863,636.36

n = number of years = 2222 years

Note that the annual future value calculated by diving the $1919 million by 2222 years and this give us $863,636.36 (i.e. 1,919,000,000 ÷ 2222 = $863,636.36).

Substituting the figures above into equation (1), we obtain:

PV = 863,636.36/(1 + 0.66)^2222

= 863,636.36/(1.66)^2222

= 863,636.36/∞

PV = 0

This is because, the division of any number by infinity is equal to zero. And if we multiply by zero by 2222, it will still give us zero PV.

Therefore, the cash option payout will be zero. It is better the winner take the option of collecting $863,636.36.

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3 years ago

The overall attractiveness of a foreign market depends on the risks and rewards of conducting business in the country of interes

zvonat [6]

Answer:

Legal

Explanation:

Legal risk is a risk that financial or reputation loss may arise from lack of awareness or misinterpretation of the laws and regulations that apply to a business. Different countries are governed by different laws and regulations. Therefore, there will be a legal risk in operating a business in different foreign countries.

6 0

3 years ago