In Order to Make Effective Decisions in Today's Fast-Moving World

question 19

Multiple Choice

In order to make effective decisions in today's fast-moving world, managers need to ________.

• A) build organizations that shun complexity
• B) know when it is time to call it quits
• C) ignore cultural differences
• D) build organizations that rely on their past successes
• E) always use the rational decision-making process

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Definitions:

BAT Model

The Behaviorally Anchored Rating Scale, a method used in performance evaluation to combine qualitative and quantitative measures.

Cash Flows

The sum total of monetary transactions incoming and outgoing in a firm, crucially affecting its short-term financial health.

BAT Model

Behaviorally Anchored Rating Scale (BARS) Model used for evaluating performance by comparing specific behavioral examples of performance against a scale of performance levels.

Constant Cash Outflow

A fixed amount of money paid out by a company at regular intervals, typically for operating expenses or loan repayments.