Question
Which of the following is not an operational
decision?Solution
Operational decisions are determinations made in regard to the routine, ongoing activities in the functional areas of an organization. These relate to day-to-day functioning or operations of business. Middle and lower-level managers take these decisions. Strategic decisions are important decisions which affect objectives, organisational goals, and other important policy matters. These decisions usually involve huge investments or funds. These are non-repetitive in nature. Deciding the location of the plant is a strategic decision to optimally manage the logistics cost and manage the supply chain efficiently. These decisions involve huge investments, made by the firm, in acquiring building(s), arranging and installing plant and machinery.
A manager who uses anchoring bias to make decisions is guilty of doing which of the following?
Manish is going on a vacation and needs to book a hotel. He shortlists 3 hotels and is now comparing them on basis of cost, facilities available and pro...
_________ are mental shortcuts that allows people to solve problems and make judgments quickly and efficiently.
Which of the following theory states that people are averse to losses?
The _______ is a process used to arrive at a group opinion or decision by surveying a panel of experts.
Fish-bowling is a variation of which of the following decision-making technique?
Who defined the various roles of a manager into three categories of interpersonal informational and decisional roles?