unit 2 Flashcards
1
Q
what’s a stakeholder
A
Anybody with an interest in the business
2
Q
Examples of stakeholders
A
Locals, government, shareholders, suppliers, banks, customers
3
Q
What is the role of a stakeholder map?
A
helps to inform decision making by looking at how involved the stakeholder should be
4
Q
What is a decision tree?
A
A mathematical model to help managers make decisions by using probabilities and estimates to calculate possible outcomes
5
Q
How do you calculate expected value of an outcome?
A
Probability x estimated financial outcome = expected value
6
Q
A
