Which of the Following Is the First Step in the Managerial

question 38

Multiple Choice

Which of the following is the first step in the managerial decision making process?

• A) Evaluation and feedback
• B) Development of alternatives
• C) Recognition of decision requirement
• D) Diagnosis and analysis of causes
• E) Selection of desired alternatives

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Definitions:

Credit Availability

The level of accessibility individuals or businesses have to obtaining loans or credit from financial institutions.

Interest Rate

The cost of borrowing money, typically expressed as a percentage of the amount borrowed, paid to the lender.

Average Price

The sum of the prices of all units sold divided by the quantity of units, providing a central value that typifies the price level within a specific market.

Savings And Loan Associations

Organizations that primarily accept savings deposits and distribute loans, including mortgages, to borrowers.