Questions and Answers of Agribusiness Principles Of Management

The longest path of connecting tasks in a PERT chart as a project moves toward completion is the ______ _______.
The act of setting priorities for using our time to achieve our needs and desires is known as _______ _______.
The Roman author Quintilian provided the quote still used in the fashion industry today: vestis virdum reddit—clothes make the man. Mention Roman clothing and one item of apparel springs to
List and describe the steps in the decision-making process.
Describe the three basic conditions under which managers make decisions.
What is the role of creativity in decision making?
Compare and contrast the rational and behavioral models of decision making.
Describe the differences and similarities between payoff matrices and decision trees.
Identify a decision making circumstance that has elements of both certainty and uncertainty.
Which model of decision making do you think is most common? Is a given manager most likely to follow one of the models almost exclusively, or will the same manager go back and forth between models?
Identifying all the potential alternatives to a decision situation may be too costly, if not impossible.Yet satisficing is a problem if too few alternatives are explored. How might a manager guard
Can creativity be practiced apart from decision making, or are the two always linked? Why?
Identify a recent situation in which you framed a decision in terms of a choice between losses.Did you eventually choose the riskier of the two alternatives? How could you have framed the decision
The process of bringing people together and encouraging a free and open discussion of creative solutions to a problem is called ______.
Situations which occur frequently and therefore allow the decision maker to utilize a decision rule or company procedure are called ______ decisions.
Decisions that have very significant or expensive consequences or that have not occurred in the past and for which there is no established decision rule or procedure are called ______ decisions.
The process of identifying and utilizing new, unusual, and/or creative solutions and alternatives to problems is known as ______.
The model of decision making that assumes managers are objective, have perfect information, and understand all alternatives and consequences is called the ______ model.
The tendency of people to let the way a decision is stated either as a potential gain or loss affect their choice of risky or cautious alternatives is known as ______ ______.
The likelihood that an event will or will not occur is known as ______.
The sum of all possible outcomes of an alternative multiplied by their respective probabilities results in the ______ ______ of the alternative.
A decision-making technique that helps plan waiting lines is called a ______ model.
The three possible decision-making conditions managers may face are ______, ______, and ______.
Ponce de Leon arrived in the New World with one quest in mind: to fi nd the fountain of youth. In the fifteenth and sixteenth centuries the search for youth was paramount. It was important because

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