When the Goal of the Decision Making Exercise Is to Make

question 79

Multiple Choice

When the goal of the decision making exercise is to make a satisfactory decision because you are limited in some way such as time,you should utilize

• A)the rational decision-making model.
• B)the intuitive decision-making model.
• C)the bounded rationality decision-making model.
• D)the creative decision-making model.

---

Definitions:

Purchasing

The process of obtaining goods or services, typically for business purposes, from an external source.

Make-Or-Buy Decision

The choice between producing a component or a service and purchasing it from an outside source.

Externally

Refers to actions or processes that occur outside a system or entity.

Supply-Chain Strategy

The planning and management of all activities involved in sourcing, procurement, conversion, and logistics to maximize customer value and achieve a sustainable competitive advantage.