BMAL Reading Quiz 8

Description

1. While there are a variety of management tools that are available to managers, choosing only one tool is best in the best decision-making process to allow for consistency.
   2. The art of decision making may be perfected with time, as all decisions are relatively routine in nature.
   3. Mistakes can be a great educator, particularly if a manager learns from them.
   4. Pro-forma financial statements are great when preparing budgets, but actual decisions made do not really affect the financial statements.
   5. Potential options in the decision making process should be evaluated using a best case, realistic, and worst case mentality.
   6. An opportunity cost is the value of future expenditures.
   7 Opportunity costs are not always about a financial amount.
   8. Relatively speaking, if a project has a positive NPV, that project should be undertaken.
   9. John Boyd created the OODA Loop, which was originally used for decision making purposes.
   10The OODAG expands upon the OODA Loop.