Managers Identify the Relevant Costs and Benefits for Each Solution

question 37

Multiple Choice

Managers identify the relevant costs and benefits for each solution by focusing on ________.

• A) the alternative solution that will derive maximum customer satisfaction
• B) how total costs and total revenues will change under each alternative solution
• C) how the employees of a company would be able to implement a change
• D) how long it will take for the improved program to be fully functional

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Definitions:

Statistical Approach

A method involving the collection, analysis, interpretation, and presentation of data to solve problems or make decisions.

Objective Approach

A method or perspective that is based on facts and devoid of personal feelings or biases, aiming for impartiality and accuracy.

Selection Procedures

The processes and methods used by an organization to identify, evaluate, and choose the most suitable candidates for a position.

Selection Ratio

A measure used in hiring processes to indicate the number of hired individuals out of all applicants.