Which of the Following Statements Would Not Be Considered to Be

question 7

Multiple Choice

Which of the following statements would not be considered to be a value of an organisation?

• A) 'We care about our customers.'
• B) 'We conduct all business dealings with integrity.'
• C) 'We are accountable to all our stakeholders.'
• D) 'We will be the largest producer in the world by 2020.'
• E) 'We place trust ahead of profit.'

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Definitions:

State of Nature

A term used in decision theory referring to the actual but possibly unknown status of the world, which affects the outcomes of decisions.

Opportunity Loss

The cost of the next best alternative foregone as a result of making a decision.

Actual Profit

The realised gain from business operations or investments, after all costs and expenses have been deducted.

Payoff Table

A tabular representation of the possible outcomes or payoffs in a decision-making problem, against various decisions under different states of nature.