INTRODUCTION TO ENTREPRENEURSHIP
IMPORTANCE OF ENTREPRENEURSHIP IN ECONOMIC DEVELOPMENT
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Question
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Organizational decisions
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Personal decisions.
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Routine decisions.
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Strategic decisions.
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Detailed explanation-1: -There are 4 basic elements in decision theory: acts, events, outcomes and payoffs. There are 4 basic elements in decision theory: acts, events, outcomes, and payoffs.
Detailed explanation-2: -1] Making routine choices and judgments. When you go shopping in a supermarket or a department store, you typically pick from the products before you. 2] Influencing outcomes. 3] Placing competitive bets. 4] Making strategic decisions. The constraint of decision making research.
Detailed explanation-3: -basis development. deterministic sensitivity analysis. probabilistic analysis. basis appraisal.
Detailed explanation-4: -Step 1: Identify the decision. You realize that you need to make a decision. Step 2: Gather relevant information. Step 3: Identify the alternatives. Step 4: Weigh the evidence. Step 5: Choose among alternatives. Step 6: Take action. Step 7: Review your decision & its consequences. 08-Jun-2022