When Managers Know the Possible Outcomes of a Decision and Can

question 81

Multiple Choice

When managers know the possible outcomes of a decision and can assign probabilities to each of these outcomes in terms of their likelihood of occurrence in the future, this is known as

• A)uncertainty.
• B)certainty.
• C)risk.
• D)bounded rationality.

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Definitions:

Strict Route Designs

Planned and fixed paths or schedules designated for logistics, sales, or service visits to ensure efficiency and coverage.

Frequency of Sales Calls

The number of times sales representatives contact prospects or customers within a given period to promote their products or services.

Development Sales Territories

The process of organizing and dividing a geographical area or market into specific segments or territories for more efficient sales management and targeting.

Inefficient

Lacking in effectiveness or the ability to produce a desired outcome without wasting materials, time, or energy.