ECONOMICS
DECISION MAKING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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True
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false
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Either A or B
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None of the above
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Detailed explanation-1: -Decision making can also be classified into three categories based on the level at which they occur. Strategic decisions set the course of organization. Tactical decisions are decisions about how things will get done. Finally, operational decisions are decisions that employees make each day to run the organization.
Detailed explanation-2: -Organizational and Personal Decisions: Decisions taken by managers in the ordinary course of business in their capacity as managers are organizational decisions. For example: decisions regarding introducing a new incentive system, transferring an employee, reallocation or redeployment of employees etc.
Detailed explanation-3: -Verifiable objectives means that at the end of any time period or task it should be possible to determine whether or not the objectives for the period have been achieved. The goal of every manager is to create a surplus (in business organizations this means profits).