Business Decisions0 (0) by admin Feb 6, 2024 0 Comment Welcome to your Business Decisions Exam You only have 30 minutes to answer the questions and you have two chances to answer. Name Email Business Phone Country City 1. Cost-benefit analysis helps in: Making decisions based solely on intuition. Evaluating the long-term impacts of decisions. Ignoring the costs involved in decision making. Avoiding consideration of benefits. None 2. Decision trees and scenario analysis are used to: Rely solely on intuition for decision making. Avoid considering potential outcomes of decisions. Analyze complex decision problems and evaluate alternative courses of action. Simplify decision-making processes by eliminating alternatives. None 3. In ethical decision making, what should be considered when evaluating potential actions? Ethical implications and impacts on stakeholders Financial benefits only Legal requirements only Personal gain only None 4. Case studies in business decision making are valuable because they: Ignore the complexities of decision making. Are solely based on fictional scenarios. Offer real-world examples to illustrate decision-making principles. Provide theoretical concepts without practical applications. None 5. Ethical decision making in business involves: Considering the ethical implications of decisions. Ignoring the impact of decisions on stakeholders. Prioritizing personal gain over ethical considerations. Making decisions based solely on legal requirements. None 6. Techniques for making effective decisions under time constraints and pressure include: Relying solely on intuition. Procrastinating until the last minute. Ignoring the urgency of the situation. Systematically analyzing alternatives. None 7. Decision making in cross-functional teams can be challenging because: It encourages siloed thinking. It fosters collaboration and diverse perspectives. It eliminates the need for compromise. It promotes efficient communication. None 8. Game theory is useful in strategic decision making because it: Promotes cooperation among competitors. Analyzes the interdependence of decision makers and their strategies. Focuses solely on individual decision making. Ignores the competitive dynamics of business environments. None 9. Strategies for implementing decisions effectively include: Implementing decisions without any evaluation. Ignoring feedback from stakeholders. Monitoring outcomes and adjusting strategies accordingly. Focusing solely on the initial planning stage. None 10. Which decision-making model is characterized by systematically analyzing all possible alternatives and choosing the optimal one? Rational decision making Emotional decision making Intuitive decision making Bounded rationality None 11. What is the primary goal of risk management in business decision making? To assess and mitigate risks effectively To maximize potential losses To eliminate all risks associated with decisions To ignore potential risks and focus on rewards None 12. Which of the following is NOT a component of data analysis for decision making? Data-driven decision-making techniques Historical data exclusion Data visualization Statistical analysis None 13. Risk management in business decision making involves: Relying solely on luck to deal with risks. Assessing and mitigating risks associated with decisions. Avoiding making decisions altogether to prevent risks. Ignoring potential risks to focus on immediate gains. None 14. Data analysis for decision making involves: Using statistical analysis and data visualization. Relying solely on historical data for decision-making. Ignoring data altogether in decision-making processes. Intuition-based decision-making techniques. None 15. Which of the following best describes the importance of decision making in business? It restricts innovation and creativity within the organization. It allows businesses to avoid making choices and maintain the status quo. It enables businesses to adapt to changing environments and seize opportunities. It ensures that all employees have equal decision-making power. None Time's upTime is Up! Our Score Click to rate this post! [Total: 0 Average: 0]
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