Answered: Strategy analysis and choice largely…

Understanding Business

12th Edition

ISBN:9781259929434

Author:William Nickels

Publisher:William Nickels

Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment

Section: Chapter Questions

Problem 1CE

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Objective vs. Subjective:

Objective analysis and information are purely factual and involves no interpretation. Raw numbers such as expenses, debt, revenue, and profit are objective, quantitative data points. Subjective information and points of view are based on interpretation and analysis made by humans. Artificial intelligence algorithms have emerged as popular tools in recent decades for decision-making. These tools typically have a subjective slant since humans created some form of bias in how data is processed.

Strategy analysis and choice largely involve making subjective decisions based on objective information. True or false? Explain your answer.

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