When a Manager Is Making a Decision That Involves Both

question 18

Multiple Choice

When a manager is making a decision that involves both known and unknown elements, the most effective decision tool is usually a(n) ___________.

• A) factor analysis
• B) OODA loop
• C) decision tree
• D) stochastic simulation

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Definitions:

Succession Planning

The process of identifying and developing new leaders who can replace old leaders when they leave, retire or pass away.

Save Money

Strategies or actions taken to reduce costs and expenditures, optimizing resource use to improve financial health.

Grooming

The practice of cleaning and maintaining one's appearance for social or professional reasons.

Successor

An individual who follows another in a specific role or position, often as a result of planned succession or replacement.