When Managers Are Unable to Even Assign Probabilities to the Outcomes

question 262

Multiple Choice

When managers are unable to even assign probabilities to the outcomes attached to various problem-solving alternatives, ___.

• A) a state of crisis exists
• B) uncertainty exists
• C) managers cannot rely on creativity
• D) no solutions are possible
• E) the planning system must rely on managers' intuition

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Definitions:

SWOT Analysis

A strategic planning tool that identifies an organization's Strengths, Weaknesses, Opportunities, and Threats.

Balanced Strategic Planning

An approach to strategic planning that ensures all aspects of the business are considered and aligned with the organization's goals, including financial and non-financial elements.

Intangible Assets

Non-physical assets possessing value, such as intellectual property, brand reputation, and trademarks.

Marketing Plan

A comprehensive document outlining a company's marketing efforts, including strategies, target markets, and specific actions to reach marketing objectives.