What is it called when a person takes stock of what is to be gained and lost in a decision?Managerial ethicsCost-benefit analysisRuSelf-regulation
Question
What is it called when a person takes stock of what is to be gained and lost in a decision?
- Managerial ethics
- Cost-benefit analysis
- RuSelf-regulation
Solution
The correct term for when a person takes stock of what is to be gained and lost in a decision is Cost-benefit analysis.
Cost-benefit analysis is a systematic approach to estimating the strengths and weaknesses of alternatives used to determine options that provide the best approach to achieve benefits while preserving savings. This method is often used in economics to make informed choices, ensuring that the benefits outweigh the costs involved in a particular decision or action.
In contrast, managerial ethics refer to the moral principles that guide the behavior of managers, while self-regulation refers to an individual's ability to manage their own behavior and impulses. Thus, the most fitting choice in this scenario is cost-benefit analysis.
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