Describe the Three Decisions Commonly Made Within Organizations

question 33

Essay

Describe the three decisions commonly made within organizations.Strategic decisions set the course of the organization.Tactical decisions are decisions about how things will get done.Operational decisions refer to decisions that employees make each day to make the organization run.Medium;Knowledge

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Definitions:

Excludable

A characteristic of a good or service that allows owners or producers to prevent others from using it without paying.

Rival In Consumption

A characteristic of a good whereby its use by one person diminishes its availability for use by another person, contrasting with non-rival goods.

Gym Membership

A paid subscription that grants an individual access to a gym's facilities and equipment for a set period of time, promoting physical fitness and health.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by anyone without preventing others from using them as well.