Managers need to make many decisions daily, which are mostly…
Managers need to make many decisions daily, which are mostly non-programmed decisions. Non-programmed managerial decisions have specific characteristics. Based on the degree of certainty involved, every decision-making situation falls into one of the following three categories: certainty, risk and uncertainty. When predictability is lower, a condition of risk exists. Which of the following is then a characteristic of decision-making under risk?
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