ENTREPRENEURSHIP

ENTREPRENEURIAL OPERATIONS

CHAPTER 7 ENTREPRENEURIAL LEADERSHIP AND MANAGEMENT

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

A short-term decision which is taken regularly and involves few resources is known as what type of decision?

A	Tactical decision
B	Strategic decision
C	Programmed decision
D	Non-programmed decision

Explanation:

Detailed explanation-1: -The reason is that these types of decisions are taken frequently and they are repetitive in nature. This decision is taken within the purview of the policy of the organisation. Only lower level management takes programmed decision and has short-term impact.

Detailed explanation-2: -Tactical decisions pertaining to the policy and planning of the firm are known as policy decisions. Such decisions are usually reserved for the firm’s top management officials. They have a long term impact on the firm and require a great deal of analysis.

Detailed explanation-3: -Examples of tactical decisions include product price changes, work schedules, departmental reorganization, and similar activities. The impact of these types of decisions is medium regarding risk to the organization and impact on profitability.

Detailed explanation-4: -The Tactical Decision-Making Process is the military version of the decision-making process tailored to the unique needs of the military. TDMP consists of four essential steps: Mission Analysis, Course of Action Development, Course of Action Analysis/Comparison, and Decision & Execution.

There is 1 question to complete.