Decision Analysis

Decision making is defined as "the cognitive process leading to the selection of a course of action among alternatives" (Decision Making, 2006, para. 1). Decisions are made continually throughout our day.

A. In order to improve the current workflow in the plant, I recommend using the work stations layout tool whether through the Excel or POM program. This will help to show a clearer picture of the work flow that is present at Shuzworld, with allotting equal times in each work station. This will enable the company to find the shortest time to be used in each station for optimal performance and production of all shoes. Decision Analysis has been established to advance theory, application, and teaching of all aspects of decision-making methods.

17. Environments exist when decision makers lack complete certainty regarding the outcomes of various courses of action, but they are aware of the probabilities associated with their occurrence

Most decisions are made with analysis, but some are judgment calls not susceptible to analysis due to time or information constraints. Please write about a judgment call you’ve made recently that couldn’t be analyzed. It can be a big or small one, but should focus on a business issue. What was the situation, the alternatives you considered and evaluated, and your decision making process? Be sure to explain why you chose the alternative you did relative to others considered.

United Methodist follows four Theological Task that we base our decision-making from. The following are the four Theological Task:

1. People Face Trade-Off. - It means that making a decision requires us to trade one goal against another. It’s like to get one thing that we like and we usually give up another thing that we also like.

It is my recommendation that Shuzworld change their facilities layout to create a better workflow. You can accomplish this by breaking the current structure and reorganizing the workstations to accomplish tasks in a more time efficient manner and maximizing an employees’ time spent on the product. Utilizing the Case Study we can surmise that each eight hour shift must produce forty-eight work boots. 8 hours times 60 minutes equals 480 minutes. 480 minutes (The Work Shift) divided by 48 (the number of work boots required) equals 10. One work boot must be completed in 10 minutes to meet production goals. Let’s take a look at the steps involved

In my workplace, I often deal with situations were different factors can be considered and every situation is different depending on the customer. I work for a non-profit agency that provides services to customers who are considered unemployed or underemployed. As with any business, each customer has their own separate needs that they come to us for, and what we provide one customer we might not be able to do for another. Each decision that I make requires me to assemble information from two database systems along with what is provided to by the customer and their employment specialist. I assemble all information necessary along with our related policies to make the most informed decision I can. In many situations, when I make a decision

Reflect on a time when you challenged a belief or idea. What prompted you to act? Would you make the same decision again?

The following explanation is structured based on the decision making model: Define the problem (A), Analyze Alternatives (B), Make a Choice (C), Take Action (D), Evaluate Result (E). For each of the steps in the decision-making process, I will list each situation in order (1-4) stated in Case 9, W-115.

The rational decision-making model describes a series of steps that decision makers should consider if their goal is to maximize the quality of their outcome. In other words, if you want to make sure that you make the best choice, going through the formal steps of the rational decision-making model may make sense. The following are the steps taken to come to a rational decision: 1. Identify the problem, 2. Establish decision criteria, 3. Weigh decision criteria, 4. Generate alternatives, 5. Evaluate the alternative, 6. Choose the best alternative, 7. Implement the decision, 8. Evaluate the decision.

The state of nature is the state were humans existed before government was ever created. There once was a period were there were not any rules, or laws to obey. In a state of nature there are no social goods. No farming, housing, technology, or education. With a state of nature there must be guaranteed that no one will harm one another, and people must rely on other 's to keep their word, and not go back on what they say. Living in a state of nature was no way to live honestly. A state of nature was total anarchy. The human condition is something we can not help, equality of needs, and scarcity are a few examples of human needs that are not reversible. There were three theorist who had different views on the state of nature. Thomas Hobbes, John Locke, and Jean Jacques Rousseau. Each theorist had some similar and different views

Once a decision maker has defined the problem, he or she needs to identify the decision criteria that will be important in solving the problem. In this step, the decision maker is determining what’s relevant in making the decision. This step brings the decision maker’s interests, values, and personal preferences into the process. Identifying criteria is important because what one person thinks is relevant, another may not. Also keep in mind that any factors not identified in this step are considered as irrelevant to the decision maker.

Quick Quizzes The answers to the Quick Quizzes can also be found near the end of the textbook. 1. The four principles of economic decision making are: (1) people face trade-offs; (2) the cost of something is what you give up to get it; (3) rational people think at the margin; and (4) people respond to incentives. People face trade-offs because to get one thing that they like, they usually have to give up another thing that they like. The cost of something is what you give up to get it, not just in terms of monetary costs but all opportunity costs. Rational people think at the margin by taking an action if and only if the marginal benefit exceeds the marginal

1. Comparison of the decision factors created with the criteria established to arrive at a decision