Which of the Following Is NOT One of the Steps

question 160

Multiple Choice

Which of the following is NOT one of the steps in the managerial decision-making process?

• A) basing decisions on sunk costs
• B) defining business goals
• C) identifying alternative courses of action
• D) gathering and analyzing relevant information

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Definitions:

Employee Leasing

A practice where businesses hire their workers through a third-party, transferring the administrative responsibility of employees, such as payroll and benefits, to the leasing firm.

Outsourcing

The practice of hiring external companies or individuals to perform tasks, handle operations or provide services that are either difficult to manage or are outside the business's core competencies.

Offshoring

The practice of relocating business processes or services to another country, often to take advantage of lower labor costs or favorable regulatory environments.

Cost Reduction

Strategies or measures implemented to lower expenses and improve efficiency within an organization or project.