Scot,a Manager at a Hotel Decided to Launch a New

question 7

Multiple Choice

Scot,a manager at a hotel decided to launch a new type of cuisine in his restaurant,as the restaurant was incurring losses because of negative feedback on its existing cuisine.Scot had to take a decision immediately to improve the situation and was aware of the possible consequences of his actions.Scot had to take the decision in an) ________ environment.

• A)uncertain
• B)risk
• C)certain
• D)secure
• E)anticipated

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Definitions:

Service Level

A measure of the quality of a company's service, typically in terms of meeting customer needs or the percentage of customer demands met on time.

Probability

An evaluation of the probability that a specific event will take place.

Stockout

A situation in retail or supply chain management where the inventory of a particular item is completely depleted, leading to an inability to meet customer demand.

ABC Analysis

A method for classifying inventory items based on their importance, such as their sales volume or value, to prioritize management focus.