In Applying the Four-Step Decision-Making Framework, Which of the Following

question 49

Multiple Choice

In applying the four-step decision-making framework, which of the following is a difference in individuals' and organizations' decision making process?

• A)Individuals' goals might have several factors whereas organizations tend to have focused goals.
• B)Individuals' goals tend to be clear, whereas organizations' goals tend to be unclear.
• C)Individuals' goals tend to be long-term, whereas organizations' goals tend to be short-term.
• D)Individuals' goals' may be monetary or nonmonetary, whereas organizations' goals are always monetary.
• E)All of the above are differences in individual and organizational decisions.

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Definitions:

Entrepreneurial Traits

Characteristic features and attributes that are commonly observed in successful entrepreneurs, such as innovation, risk-taking, and resilience.

Risk-Taking Behavior

The propensity to engage in activities or decisions that have the potential for significant loss or gain, typically evaluated in the context of business, investment, and personal choice.

Managerial Knowledge

The information and skills needed by individuals in managerial positions to make informed decisions and manage teams effectively.

Internal/Cost Dimensions

Factors that relate to the inner workings and expenses of a business or project.