GRADE 11, ORGANIZATIONAL MANAGEMENT
√Correct Answer will Mark BRAINLIEST.
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•••Explain and Differentiate the "Certainty conditions" and "Risk or uncertainty conditions"
√Correct Answer will Mark BRAINLIEST.
√I'll Heart All your Answers
•••Explain and Differentiate the "Certainty conditions" and "Risk or uncertainty conditions"
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Answer:
A condition of certainty exists when the decision-maker knows with reasonable certainty what the alternatives are, what conditions are associated with each alternative, and the outcome of each alternative.
Conditions of uncertainty exist when the future environment is unpredictable and everything is in a state of flux. The decision-maker is not aware of all available alternatives, the risks associated with each, and the consequences of each alternative or their probabilities.
Answer:
Risk can be understood as the potential of loss. It is not exactly same as uncertainty, which implies the absence of certainty of the outcome in a particular situation.
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