Which of the following is not one of the steps in the managerial decision-making process?
a. defining business goals
b. identifying alternative courses of action
c. basing decisions on sunk costs
d. gathering and analyzing relevant information

C. basing decisions on sunk costs.

Explanation:

This is the option that does not represent a step in the managerial decision-making process. Defining business goals is an extremely important step, as this is the factor that provides guidance to managers and informs them of which path to follow. Identifying alternative courses of action is important because it allows managers to think outside the box. Finally, gathering and analyzing relevant information allows managers to act in an informed way.

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