Author Question: Identify and describe each of the major steps in the managerial decision-making ... (Read 94 times)

savannahhooper · **on:** Jul 14, 2018

Identify and describe each of the major steps in the managerial decision-making process.

Question 2

In the context of strategic planning, which of the following is true of mission statements?
A) They contain complex words and phrases.
B) They follow a common format across various organizations.
C) They are circulated within an organization, not outside.
D) They provide a clear, long-term focus for an organization.

JYan · **Reply #1 on:** Jul 14, 2018

Answer to Question 1

Managerial decision making involves four steps: (1 ) identifying the problem--the discrepancy between an actual condition and a desired condition; (2 ) generating alternatives--after problem identification, alternatives need to be generated; (3 ) selecting an alternative--managers must select the alternative that will be most effective and practical; and (4 ) implementing and evaluating the solution--devoting resources to the implementation of the selected alternative and, finally, evaluating the decision's effectiveness.

Answer to Question 2

D