COST ACCOUNTING
INFORMATION FOR DECISION MAKING
Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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concentration
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preparation
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complacency
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Verification
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Detailed explanation-1: -Despite been widely talked about in organisations, it is still prevalent in decision making. Groupthink bias leans strongly towards harmony and a reluctance to disrupt the group with personal opinion. This results in dysfunctional decision-making, minus robust critical treatment.
Detailed explanation-2: -Barriers to Effective Communication These include filtering, selective perception, information overload, emotional disconnects, lack of source familiarity or credibility, workplace gossip, semantics, gender differences, differences in meaning between Sender and Receiver, and biased language.
Detailed explanation-3: -The factors influencing decision-making are personality, culture, context, information available, and level of education. These factors should be kept in mind whenever a person is taking any decision, as some of them can be controlled but not all, like personality or culture.
Detailed explanation-4: -Difficulty in making decisions can be caused by several factors, such as a fear of failure and a lack of confidence or information. Indecisiveness can also be a symptom of mental health conditions, such as attention deficit hyperactivity disorder (ADHD), depression, and post-traumatic stress disorder (PTSD).