Decision trees can be used to determine the best possible alternatives and potential payoff for a new product or solving other management problems where uncertainty is present.Your task is to build a decision tree based on the following scenario.OM, Inc., a manufacturer of widgets, is considering the possibility of producing a new super-duper widget using 3D printing. This new project will require OM, Inc. to either purchase a high-end 3D printer or hire and train three additional employees. The market for the new widget could be either favorable or unfavorable. In the end, OM, Inc., can also decide not to develop the new widget.Sales for favorable acceptance by customers would be 30,000 widgets selling for $80 each. With unfavorable acceptance, sales of the widgets would only be 9,000 widgets as a selling price of $80 each. The cost of the 3D printing system is $600,000, however, the hiring and training of three new employees would cost only $100,000. In the end, manufacturing costs should drop from $60 for each widget when manufacturing without 3D printing to $45 each when 3D printed.The probability of favorable acceptance of the new widget is .35; the probability of unfavorable acceptance is .65.Use Excel OM to build a decision tree. Submit your Excel decision tree along with a short explanation of what decision should be made by the company and how you arrived at your answer.

Critical Thinking 1Reference: MGT490-Book-Chapter No-01 (The Exceptional Manager)This chapter has introduced you to how Henry Mintzberg changed the perception of a manger's role by studying how they spent their working day and classifying managerial activities into decisional, interpersonal and informational roles. This gave a new insight into the activities involved in being a manager but did not distinguish between the things that people called ‘manager’ do that contribute to the management of the organisation (such as coordination and control) from the things they do that everyone in an organisation does (such as talking to other people). In this context, the earlier contribution of Fayol in outlining the main purposes of management is considered to still be of relevance, although it provides limited understanding of how managerial jobs are affected by the environment in which managers work.you will need to do further research beyond reading the chapter. Questions:-To understand what managers do, explain how it is necessary to study both the activities performed by managers and the purposes of their activity.As well as variation across the levels of management (first-tier, middle and top), how would you expect the manager's role to vary with the extent to which the organisational environment is changing, such as through new technology, changes in market demand or new forms of competition?What is the potential importance of studying how managers like to spend their work time as well as how they actually allocate their work time between different activities?Explain how it is possible that there might be a difference between successful and effective managers in terms of how each type of manager tends to spend their time. It has been argued that it is well known what managers should do to be a good manager. Explain this assessment and discuss what you think are the biggest challenges to being a good manager.