Get Best Liberty University BMAL 530 Quiz 8
Get Best Liberty University BMAL 530 Quiz 8
- Relatively speaking, if a project has a positive NPV, that project should be undertaken.
- The art of decision-making may be perfected with time, as all decisions are relatively routine in nature.
- An opportunity cost is the value of future expenditures.
- Mistakes can be a great educator, particularly if a manager learns from them.
- The OODA expands upon the OODA Loop.
- Potential options in the decision-making process should be evaluated using a best-case, realistic-case, and worst-case mentality.
- Opportunity costs are not always about a financial amount.
- Pro-forma financial statements are great when preparing budgets, but actual decisions made do not really affect the financial statements.
- John Boyd created the OODA Loop, which was originally used for decision-making purposes.
- While there are a variety of management tools that are available to managers, choosing only one tool is best in the decision-making process so as to allow for consistency.
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