Livfast Batteries Interview Questions and Answers

Trade-offs are inevitable in decision making.

• Trade-offs involve sacrificing one thing for another.

• They are necessary in decision making when resources are limited.

• Examples include choosing between cost and quality, time and money, or short-term and long-term gains.

• Effective decision makers weigh the pros and cons of each option before making a choice.

• Trade-offs can also be minimized by finding creative solutions or alt

Yes, people respond to incentives as it motivates them to take action and achieve desired outcomes.

• Incentives can be monetary rewards, recognition, promotions, or other benefits.

• They create a sense of urgency and encourage individuals to put in extra effort.

• For example, offering a sales team a bonus for meeting or exceeding targets can drive them to work harder and close more deals.

• Incentives can also foster healthy co...read more

Rational people consider the benefits and costs of each decision made.

• Thinking at the margin means considering the additional benefits and costs of each decision made.

• Rational people weigh the pros and cons of each decision before making a choice.

• For example, an Area Sales Manager might consider the cost of hiring a new salesperson versus the potential increase in sales revenue.

• Thinking at the margin helps to make info...read more