1.6 Decision-Making Models Quiz

What type of decision is focused on immediate actions?

• Strategic

• Tactical

• Operational

• Long-term

Which decision-making model involves a series of logical steps?

• Bounded-rationality

• Intuitive

• Rational

• Solutions-based

What is the primary focus of a solutions-based approach to decision-making?

• Identifying problems

• Focusing on the past

• Future goals

• Avoiding change

Which model is used when there is insufficient time or information?

• Rational

• Bounded-rationality

• Intuitive

• Solutions-based

Which type of decision is concerned with long-term business strategy?

• Tactical

• Operational

• Strategic

• Immediate

What is a key feature of the triple-bottom line decision-making model?

• Financial benefits only

• Environmental and social impacts

• Short-term focus

• Avoiding risks

Which decision model relies on instinct?

• Rational

• Bounded-rationality

• Intuitive

• Solutions-based

What is an example of a financial cost to a business?

• Customer loyalty

• Increased market share

• Labour costs

What is a non-financial benefit to a business?

• Profits

• Efficiency gains

• Quality improvements

• Depreciation

What is a public benefit resulting from business decisions?

• Profit margins

• Lower average costs

• Waste reduction

• Labour costs