Quantitative Approaches to Management Include All of the Following Characteristics

question 53

Multiple Choice

Quantitative approaches to management include all of the following characteristics EXCEPT:

• A) a focus on costs, revenues, and return on investment.
• B) the use of managerial rules of thumb that are based on personal experience and personal preferences.
• C) a focus on decision making that has clear implications for management action.
• D) the use of economic decision criteria.
• E) the use of mathematical models that follow sophisticated rules and formulas.

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Definitions:

Cooperative

Refers to actions or processes undertaken jointly by two or more parties with the objective of mutual benefit.

Empathetic

Possessing the ability to understand and share the feelings of another, showing empathy.

Quality Agreements

Are formal agreements between companies and their suppliers or service providers that detail the standards and quality requirements for products or services.

Identification-based Trust

A form of trust built on the alignment of values and identification with another's intentions and character.