Which of the following is NOT a factor to consider in resource allocation decisions? (2023)

1 question

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Q: Which of the following is NOT a factor to consider in resource allocation decisions? (2023)

Solution: Personal preferences of management should not influence resource allocation decisions, making option 3 the correct answer.

Steps: 5

Step 1: Understand what resource allocation means. It is the process of deciding how to distribute resources like money, time, and staff among different projects or departments.
Step 2: Identify factors that typically influence resource allocation decisions. These can include project importance, potential return on investment, and overall company goals.
Step 3: Consider the role of management's personal preferences. Personal preferences are subjective and can lead to biased decisions that do not align with the company's best interests.
Step 4: Determine which option in the question refers to personal preferences of management. This option is the one that does NOT belong in the list of factors to consider.
Step 5: Conclude that since personal preferences should not influence resource allocation, the correct answer is the option that mentions them.