Explain the difference between a programmed and non-programmed decision?
What will be an ideal response?
Programmed decisions are repetitive and routine and to the extent that a definite approach has been worked out for handling them. Non-programmed decisions come about with ill-structured problems that required unique solutions. They are not routine or repetitive in nature.
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A product-management organization makes sense if ________
A) the company's products are quite varied B) there are very few products in the company's portfolio C) the company is pursuing a low cost strategy D) the company's products satisfy similar customer needs E) the company is vertically integrated
Which of the following statements regarding insurance and hedging is true?
A) Both insurance and hedging deal only with pure risks. B) Insurance reduces objective risk while hedging involves only risk transfer and not risk reduction. C) Hedging reduces objective risk while insurance involves only risk reduction and not risk transfer. D) Both insurance and hedging reduce objective risk but do not involve the transfer of risk.