When the Goal of the Decision Making Exercise Is to Make

question 76

Multiple Choice

When the goal of the decision making exercise is to make a satisfactory decision with time,you should utilize

• A)the rational decision-making model.
• B)the intuitive decision-making model.
• C)the bounded rationality decision-making model.
• D)the creative decision-making model.

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Definitions:

Confess

To admit or acknowledge something reluctantly, often about a wrongdoing or mistake.

Optimization Strategy

A plan or method aimed at making the best or most effective use of resources within defined constraints to achieve a set goal.

Growth Related Profit

Profit that results from expansion in business size, output, or market share, indicative of a company’s growth.

Market Share

The proportion of total sales in a market captured by a particular company or product.