Two marks questions with answers


What are the three approaches in selecting an alternative?



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2 Marks QA
12. What are the three approaches in selecting an alternative?
1. Experience. Experimentation. Research and Analysis


13. What is tows metrics?
The tows metrics is a conceptual framework fora systematic analysis, which facilitates matching the external threats and opportunities with the internal weakness & strength of the organization. In the tows metrics T stands for threats stands for opportunities W for weakness and
„S
‟ for strength.
14. Define forecasting.
Forecasting is the process of predicting future conditions that will influence and guide the activities, behavior and performance of the organization. EG: forecasting the output by sales department.
15. Distinguish between decision under risk and uncertainty?
Making decision for the unknown state is decision under uncertainty Making decisions without considering the consequence is decision under risk.

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