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Explain the act of Decision making.
Step by step
Solved in 2 steps
- Describe a situation where the interests of the manager and the owner could be in conflict.explain the right as well as the wrong options brieflyExplain 'Decision Management' and 'Decision Control' and the 4 elements that make up the concepts/model. In continuation of this, it is discussed how the model should be used, i.a. using the following terms;a) allocation of decision rights,b) externalities, andc) 'residual claimants'.
- List and describe at least three barriers to effective decision-making.You are the duty manager of a large 4-star hotel. A group of guests who have consumed too much alcohol have decided to have a late-night swim in the outdoor pool and are making far too much noise when other guests are asleep.1. Bearing in mind that these guests are intoxicated, how would you defuse the situation to ensure that their drunken behaviour stops in the pool area and other guests can get back to sleep?2.George has three children from a prior marriage and marries Wendy who moves into the family home. Wendy has no children, and George and Wendy have no children together. George on his death plans to leave the family home to his children, but would like to provide for Wendy should she survive him including giving her continued rights to reside in what has become her family home too until she passes away. Of the following alternatives what might you suggest as being the most appropriate to accommodate for this? For George under his Will to grant to Wendy a permanent right of occupation of the family home For George under his Will to grant to Wendy a life interest in the family home For George under his Will to gift the home to Wendy, with the promise that Wendy will on her death leave the home to George's children
- During the year ended December 31, 20X1, Greenacre Hospital received the following donations stated at their respective fair values: Essential specialized employee-type services from members of a religious group $100,000 Medical supplies restricted for indigent care from an association of physicians and used for such purpose in 20X1 30,000 How much total revenue from donations should Greenacre report in 20X1? A. $130,000 B. $100,000 C. $30,000 D. $0VDefine GrivianceWhat are the advantages and disadvantages of having the power to make decisions
- 5.Individual A is hired to assist a local fitness center that has been struggling financially for the past few years. After analyzing the situation, Individual A identifies several changes that may increase the efficiency of the club's operations and is committed to helping the company implement that change. Individual B recently accepted a job with a local catering business. Though the catering business has excellent food, good service, and reasonable prices, it is struggling to gain adequate market share. Individual B believes that the company lacks a fundamental sense of direction and has plans to help the company articulate a new mission. What is the role of Individual A as compared to Individual B? A.Individual A and B are both managers. B.Individual A is a leader, and Individual B is a manager. C.Individual A is a manager, and Individual B is a leader. D.Individual A and B are both leaders.Explain the meaning of the term asymmetric conflict.Explain or define each of these terms:b. Minimax regret