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SingaporeBusiness ManagementQuick questions
Organisational Structure and Management
Quick questions on Management and decision making explained: H2 Management of Business
5short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What is the decision-making process?Show answer
A typical structured process runs: identify the problem or objective; gather information; develop alternatives; evaluate them against criteria (cost, risk, fit with objectives); select; implement; and review the outcome to learn. Skipping the review step is a common organisational weakness.
What are decision trees?Show answer
A decision tree is a diagram that maps decisions (squares) and chance events (circles) with their probabilities and payoffs, used to compute the expected value of each option:
What is q1?Show answer
State three functions of management. [3 marks]
What is q2?Show answer
A project has a 0.4 chance of a \200{,}000 gain and a 0.6 chance of a \50{,}000 loss. Calculate its expected value. [3 marks]
What is q3?Show answer
Analyse why a manager might reject the option with the highest expected value. [6 marks]
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