A manager has the task of collecting and analyzing data that will help the firm decide where to locate its international operations.Which of the following best describes how the manager should handle this task?
A) conduct extensive research, regardless of the expense, in order to avoid costly mistakes
B) compare the costs of data collection with the probable payoff for the firm in order to budget and schedule the collection
C) continue data gathering until all data have been collected, regardless of how long this takes
D) focus all data collection on governmental resources because they have the highest reliability

Question

Quizplus · Accepted Answer

The manager needs to analyze the data in order to decide on the best location for international operations, but the expense of data collection should also be taken into account. By comparing the costs of data collection with the probable payoff for the firm, the manager can budget and schedule the collection more effectively. This will ensure that the company obtains the necessary information without overspending or wasting time.

A Manager Has the Task of Collecting and Analyzing Data