If She Uses the Maximin Criterion, What Size Outlet Will

question 71

Multiple Choice

If she uses the maximin criterion, what size outlet will she decide to lease?

• A)small
• B)Medium
• C)large
• D)either small or Medium
• E)either medium or large

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Definitions:

Nonprogrammed Decisions

Decisions made in response to situations that are unique, poorly defined, and largely unstructured.

Crisis

A critical or pivotal point in a situation, often a period of instability or danger, which requires immediate and decisive action to resolve.

Internal and External Information

Information used in decision making; internal information originates from within an organization, while external information comes from outside sources.

Strategic Thinking

The ability to anticipate, envision, maintain flexibility, and work with others to initiate changes that will benefit in the future.