In which step of the decision-making process are managers most likely to predict future manufacturing labor costs?
A)Step 1: Identify the Problem and Uncertainties.
B)Step 2: Obtain Information.
C)Step 3: Make Predictions About the Future.
D)Step 4: Make Decisions by Choosing Among Alternatives.
E)Step 5: Implement Decision,Evaluate Performance,and Learn.

Question

Quizplus · Accepted Answer

In Step 3, managers are required to make predictions about the future based on the information acquired in Step 2. Predicting future manufacturing labor costs falls under this step as it involves forecasting potential labor cost trends and analyzing their potential impact on the organization's financial stability.

In Which Step of the Decision-Making Process Are Managers Most