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When a manager chooses an acceptable alternative instead of the optimum alternative we say that a Satisficing decision has occurred?When a manager chooses an acceptable alternative instead of the optimum alternative, we say that a satisficing decision has occurred. The first step in decision making that a manager needs to take is generate a set of feasible alternative courses of action in response to the opportunity or threat.
When the probabilities of alternative outcomes Cannot be determined and future outcomes are unknown there exists?When the probabilities of alternative outcomes cannot be determined and future outcomes are unknown, there exists: uncertainty.
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The key to a good assessment of the alternatives is to define the opportunity or threat exactly
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