Question: solve this problem correctly industrial management problem ABC Ltd. is a company manufacturing certain machine tools. It was found that the business is at the

 solve this problem correctly industrial management problem ABC Ltd. is a

solve this problem correctly

industrial management problem

ABC Ltd. is a company manufacturing certain machine tools. It was found that the business is at the maturity stage, and now demanding some change. After rigorous research, management came up with the following information. - If the company invests in the expansion of its business unit, there can be two possibilities, ie.: 40% possibility that the market share will hike, increasing the overall profitability of the company by USD 250,000;60% possibility that the competitors would take over the market share and the company may incur a loss of USD 800,000 . - If the organization go for new product development, there can be following two possibilities: 50% chances are that the project would be successful and yield USD 180,000 as profit; 50% possibility of failure persists, leading to a loss of USD 80,000. - If the company does not take any step, still there can be two outcomes, as below: 40% chances are there that yet, the organization can attract new customers, generating a profit of USD 100,000;60% chances of failure are there due to the new competitors, incurring a loss of USD 40,000. Solve the problem for a decision using the decision-tree concepts

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