PRINCIPLE OF MANAGEMENT: MANAGER AS DECISION MAKERS

What is decision-making?

• Identifying organizational goals

• Choosing from two or more alternatives

• Solving all problems automatically

• Monitoring and evaluating outcomes

Which type of decision is suitable for well-structured problems?

• Programmed decisions

• Non-programmed decisions

• Intuitive decisions

• Strategic decisions

Which of the following is an example of a non-programmed decision?

• Loan application approval

• Market entry decisions

• Reordering raw materials

• Processing bank transactions

What is the first step in the decision-making process?

• Identifying objectives

• Generating alternatives

• Evaluating alternatives

• Identifying opportunities or problems

Which method is commonly used to generate alternatives?

• Statistical analysis

• Brainstorming

• Monitoring feedback

• Fixed deposits

Decision-making under certainty means:

• Outcomes are predictable

• Risk probabilities are known

• Little knowledge about alternatives

• Relying on gut feelings

Which decision-making condition involves known probabilities of outcomes?

• Certainty

• Risk

• Uncertainty

• Intuition

What is a key characteristic of non-programmed decisions?

• Routine and repetitive

• Simple and familiar

• Unique and non-recurring

• Standardized methods used

What step follows reaching a decision in the decision-making process?

• Identifying objectives

• Implementing strategies

• Generating alternatives

• Monitoring feedback

An example of decision-making under uncertainty is:

• Expanding to a new market in Ghana

• Investing in a fixed deposit account

• Reordering raw materials

• Processing a bank loan application