regulatoryBody NABARD Grade A Prelims Mock Test 2024 Management Concepts of Management Decision Making
What is the main advantage of using a "Scenario Planning" approach in decision-making?
1
It provides a precise prediction of future outcomes.
2
It eliminates the need for contingency plans.
3
It simplifies the decision-making process by reducing the number of alternatives.
4
It helps in developing flexible strategies that can adapt to multiple possible futures.
5
It ensures that decisions are based solely on historical data.