Managers find themselves needing to make a decision when faced with bo

QUESTION

Managers find themselves needing to make a decision when faced with both problems and opportunities. Problems are difficulties that impede the achievement of goals. Why would an opportunity require decision making?

What will be an ideal response?

ANSWER

Answer: An opportunity is a favorable circumstance that presents possibilities for progress beyond existing goals. At the very least, a manager needs to recognize whether an opportunity exists and, if so, decide whether to pursue it. Pursuing it requires additional decisions, such as those regarding schedule and resources.
Explanation: When management sees an opportunity, decisions need to be made as to how much of an opportunity it is, and then management weighs that assessment against how much of a risk the opportunity presents. Decisions to proceed to take advantage of the opportunity then trigger other decisions, such as those regarding schedule, resources, and possible benefits.