Economic Conditions Are a Part of an Organization's

question 89

Multiple Choice

Economic conditions are a part of an organization's:

• A)external environment.
• B)stakeholders.
• C)organizational hierarchy.
• D)organizational structure.

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Definitions:

Satisficing

A decision-making strategy that aims for a satisfactory rather than optimal solution by prioritizing the first option that meets a given threshold of acceptability.

Future Alternatives

Potential future courses of action or strategies that are explored as options for decision-making or problem-solving.

Availability Heuristic

A mental shortcut that relies on immediate examples that come to a person's mind when evaluating a specific topic, concept, method, or decision.

Evaluate Probabilities

The process of assessing the likelihood of various outcomes in order to make informed decisions under conditions of uncertainty.