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Refer to the scenario below to answer the following questions.
Environmental Uncertainty (Scenario)
It is safe to say that managers do not have complete control over organizational outcomes; the environment has a significant impact. It is important for managers to learn both what the components of the environment are and how the environment will affect their organizations.
-To help managers understand how the environment affects their organizations, the environmental uncertainty matrix sorts industries into four cells based on two dimensions: degree of __________ and degree of __________.
PERT Analysis
Program Evaluation and Review Technique (PERT) analysis is a project management tool used to plan, schedule, and control complex activities, focusing on task durations to identify minimum project duration.
Weighted Average
A calculation that takes into account the varying degrees of importance of the numbers in a dataset, assigning weights to each number.
Expected Time
The estimated time assumed for the completion of a task or project, often used in planning and scheduling.
Optimistic
A mindset or attitude that tends to expect the most favorable outcomes of situations or believes that good ultimately predominates over evil in the world.
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