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There Are Two Kinds of Reasoning,formal and Informal

question 105

Essay

There are two kinds of reasoning,formal and informal.Compare and contrast these two modes of thought in regard to:
-information available
-number and quality of answers
-presence of established procedures
-recognition that the problem is solved


Definitions:

Performance Targets

Specific goals set by a business to gauge and improve employee or organizational performance.

Value-based Management

A management philosophy that focuses on creating value for shareholders and stakeholders through effective decision-making and strategic focus.

Economic Value

The measurement of the benefit provided by a good or service to an economic agent. It is typically assessed based on willingness to pay or market price.

Business Decisions

Choices or determinations made by businesses in the course of their operations to achieve objectives, solving problems or making strategic plans.

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