A Proper Management Decision (PMD) Is a Decision That

question 4

Multiple Choice

A Proper Management Decision (PMD) is a decision that

• A) affects the performance of the organization.
• B) does not require any technical expertise.
• C) does not significantly affect the health, safety and welfare of others or has any potential to violate the standards of an engineering code of ethics in other ways.
• D) All of the above

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Definitions:

Invisible Hand

A metaphor introduced by Adam Smith to describe the self-regulating nature of the marketplace.

Economic Prosperity

The state of flourishing, thriving, good fortune, and/or successful social status in terms of wealth, health, and happiness.

Incentives

Forms of motivation that aim to encourage people to perform actions or undertake activities by providing rewards or benefits.

Costs And Benefits

The analysis of a decision by comparing the expenses and disadvantages against the gains and advantages.