COST ACCOUNTING
INFORMATION FOR DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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An employee has left for the day due to ill health, the shift manager immediately pitches in another employee to do the job left incomplete by the sick employee till the shift ends. This is an example of
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Well-Structured problem and programmed decision
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Poorly structured problem and non-programmed decision
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Role of intuition
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Well structured problem and non-programmed decision
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Explanation:
Detailed explanation-1: -People who prefer simple, clear-cut solutions to problems use the directive style. Most people underestimate their ability to predict uncertain outcomes.
Detailed explanation-2: -But research methodology, more than any other procedure, can minimise the degree of uncertainty. Thus it reduces the probability of making a wrong choice amongst alternative courses of action.
Detailed explanation-3: -A decision is a choice made from available alternatives. Decision-making is the process of identifying problems and opportunities and selecting a course of action to deal with a specific problem or take advantage of an opportunity. Managers often are referred to as decision makers.
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