Final test - Managerial Economics

What characterises non-programmed decisions?

• When the situation occurs infrequently

• When the situation is unique

• When the situation is somewhat unstructured

• Managers need to consider relatively solving the same kind of problems

• When the situation requires much consideration

What characterises programmed decisions?

• When a situation occurs often

• When the situation is

  well-structured

• When the situation can be handled through the use of present decisions rules

• Managers need to consider relatively solving the same kind of problems

• Managers can develop guidelines for solving similar problem in the future

A situation that urgently requires an immediate decision

(a)  

A problem that requires a decision but less urgently than a crisis problem

(a)  

What is the first stage of decision-making?

• identify the problem

• generate alternatives

• make the decision

• evaluate the solution

In the decision-making process, what is the next step after identifying the problem?

• making the decision

• implementing the decision

• generation of alternatives

• evaluating the results

How does the level of management translate into the scope of decision-making responsibility?

• The higher the level of management, the narrower the scope of decision-making responsibility

• The higher the level of management, the broader the scope of decision-making responsibility

• The lower the level of management, the higher the scope of decision-making responsibility

• The lower the level of management, the narrower the scope of decision-making responsibility

What is the problem associated with decision-making in business?

(a)  

What are the reasons of resistance to change?

• Self-interest

• Differing perception

• Uncertainty

• Law competences

• Lack of understanding and trust

Point out the elements that make up the organizational environment

• internal environment

• task environment

• operational environment

• tactic environment

• general environment