Which of the following is NOT one of the steps in the managerial decision-making process?

Question

Quizplus · Accepted Answer

Basing decisions on sunk costs is not a step in the managerial decision-making process. Sunk costs are costs that have already been incurred and cannot be recovered or changed, and should not be considered when making decisions about future actions. The other three options (defining business goals, identifying alternative courses of action, and gathering and analyzing relevant information) are all important steps in the process.

Which of the Following Is NOT One of the Steps