Decisions That Have Been Made Many Times in the Past

question 15

Multiple Choice

Decisions that have been made many times in the past and for which managers have rules and guidelines about how to make similar decisions in the future are known as ________________ decisions.

• A) nonprogrammed
• B) heuristic
• C) programmed
• D) intuitive
• E) creative

Recognize the importance of industry experience in successful entrepreneurship.

Understand the concept of the product life cycle and its stages.

Recognize how personal hobbies, work experience, or serendipity can lead to business ideas.

Identify the corridor principle and its significance in expanding business opportunities.

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Definitions:

Payout Ratio

The proportion of earnings paid out to shareholders as dividends, typically expressed as a percentage of the company's total earnings.

Asset Turnover

A ratio indicating the effectiveness with which a firm employs its assets to generate sales.

Net Sales

This is the total amount of sales generated by a company after deducting returns, allowances for damaged or missing goods, and any discounts allowed.

Total Assets

Total Assets are all the assets a company owns, including cash, inventory, property, and equipment, showcasing the entity’s financial standing.