Question 1
Explain the five-step decision process that managers can use to make decisions.
Question 2
A decision model involves a(n) ________.
◦ informal method of making a choice at the lower level management using sensitivity analysis
◦ formal method of making a choice that often involves both quantitative and qualitative analyses
◦ informal method of making a choice which is discussed in detailed in the financial reports
◦ formal method of making a choice at the lower level management using advanced management techniques such as balance scorecard