Practice Uncertainty and Risk - 12.8.1 | 12. Decision-Making in Organizations | Management 1 (Organizational Behaviour/Finance & Accounting)
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Knowledge

12.8.1 - Uncertainty and Risk

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Learning

Practice Questions

Test your understanding with targeted questions related to the topic.

Question 1

Easy

Define uncertainty in the context of decision-making.

💡 Hint: What does not having complete information mean?

Question 2

Easy

What is a risk in decision-making?

💡 Hint: Think about how businesses handle uncertain situations and the dangers involved.

Practice 4 more questions and get performance evaluation

Interactive Quizzes

Engage in quick quizzes to reinforce what you've learned and check your comprehension.

Question 1

What is the primary concern when dealing with uncertainty in business decisions?

  • Complete information
  • Potential for poor decisions
  • High profitability

💡 Hint: Think about the dangers of making decisions without all the facts.

Question 2

True or False: Risk is synonymous with uncertainty.

  • True
  • False

💡 Hint: Consider how we assess outcomes based on variability.

Solve 2 more questions and get performance evaluation

Challenge Problems

Push your limits with challenges.

Question 1

Consider a company that must decide whether to recall a defective product. What factors should they consider regarding uncertainty and risk?

💡 Hint: Think about the consequences of keeping the product on the market versus recalling it.

Question 2

A manager faces resistance when implementing a new software system. What strategies might they adopt to address the resistance and what risks might be involved?

💡 Hint: Consider the balance between immediate operational challenges and long-term benefits.

Challenge and get performance evaluation