Question
In the question below, few statements are given
depicting an issue or a problem. You have to assume everything in the statements to be true even if they are at variance from commonly known facts, and on the basis of the information given in the statements, decide which of the suggested courses of action logically follow(s) for pursuing. The world is undergoing a transition from a fossil fuel-based economy to a clean energy-based economy. Coal mines in India, the third-largest coal producer in the world, are increasingly becoming unprofitable and are being shut down in an unplanned manner. About 50 percent of mines are closed and half of the remaining are unprofitable. These unplanned closures will impact not just the formal workforce but a greater number of informal workers who have been dependent on these mines for livelihoods. I. The government should frame and enforce strict guidelines for the safety of workers in coal mines. II. The government should direct thermal power plants owned by it to increase the purchase of domestic coal.Solution
The situation tells us how not only the formal workforce, but also the informal workforce face joblessness due to the closure of coal mines. II tells us how the government-owned power plants should purchase more domestic coal, which would increase demand for coal and prevent the abrupt closure of mines. Only II follows, which makes (b) the right answer.
Under which of the following five functions of management, job descriptions and job specifications will fall under?
Strategic decisions are _______
Which of the following theory says that investors value gains and losses differently, placing more weight on perceived gains versus perceived losses?
Why is it necessary to eliminate other solutions in the decision-making process?
Which of the following is not a quantitative technique of decision making?
_____________Ā refer to decisions that employees make each day to make the organization run.
______ is a decision-making process in which an individual makes a choice that is satisfactory rather than optimal.
As per Herbertās Decision-making theory, the stage in which the final decision is made is referred to as ______
Rational decision makingĀ is a multi-stepĀ process starting with defining the problem. What is the next step in this process?
How does a cost-benefit analysis contribute to selecting the best solution?