Sensitivity analysis begins with the base case (or for this analysis, the “most likely case”) developed using expected values for all uncertain variables. The uncertain variables used in this analysis are procedures per day, average net revenue, and building/equipment salvage value.
Question 16 Managers who optimize their decisions will attempt to choose a) the first minimally acceptable alternative. b) among those alternatives with variable results. c) the least expensive alternative. d) that alternative that produces the least conflict. e) an alternative that achieves the best possible balance among several goals.
In the Army, there is a process that is very useful for finding a solution to many different problems. This process is called, “The Army problem solving process”, which is a seven-step process to come up with a solution to a problem. The first step in this process is to identify the problem. Once the problem has been identified, the next step is to gather information. It would be best to identify the pros and cons of the situation. The next step is to develop criteria. This is the perfect time to consider a possible solution, which brings us to the next step, generate a possible solution. This time, possible solutions are taken into consideration and comparing each of them. This is called analyzing and comparing the solution. Finally, in the last step, a decision is made and implemented. Unfortunately, there are some potential impediments that may interfere with the Army problem solving process. One perfect example would be, “The Tyranny of Choice” which is when there are so many choices that may interfere with the decision making process. The Army problem solving
The ethical decision making process is based on moral rules and unchanging principles that are derived from reason and can be applied universally. These universal rules and principles must be considered separate from the consequences or the facts of a particular situation. (McWay, 2014). Health care workers face ethical issues and have to use the ethical decision making process to determine what is best for their patients.
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 first step of the Ethical Decision-Making Procedure is stated as, “1.0 Become Aware of Dilemma” (McNamara). According to the given case scenario, the dilemma is clearly stated. It reads that the client (mother) does not believe in rewards or support the use of them for her son. The mother is going against what the BCBA believes in and stands for, thus causing a direct dilemma. Removing reinforcers is not feasible for the professional BCBA, and this must be properly addressed with the client. Situations like these are where the Ethical Compliance Code comes into place for the sake of the clients and professionals involved.
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.
As stated by Prasad (2008), the managers should identify the different choices available in order to get most acceptable outcome of a decision. From searching different alternatives the managers can evade blocks in operations as choices are suitable if a particular idea goes wrong. Khanka (2000) expresses the view that selections can developed from in many ways such as can get from sources like experience, do training other organizations, and take others ideas and suggestions related in problems. Furthermore to improve alternatives solution the managers may investigation the signs of a problem for clues or fall back on intuition or result that stated by Griffin and Moorhead (2010). For an example in marketing department a non-programmed decision is compulsory the manager have to produce alternatives for raise market share. As McShane and Von Glinow (2000) pointed out that in a programmed decision is a standard operations is not to generate choice but can take out from the documented that already saved. Next an organizer should search the mission of a decision. In other words they need to define what is to be accomplished by it (Quick & Nelson, 2013). The decision criteria are important as mentioned by Dubrin (2002). The several criteria are consumers must aware of varies in quality of products, there not happen inflation, workers must consider the quality of improvements and lastly job satisfaction should not be reduce.
Many methods have been developed to simplify the decision making process. In this paper, the rational model of decision making will be discussed first. Then, some of the factors that cause deviation in the rational
Due to its complexity MCDM can be a costly and lengthy process to implement. There are in excess of 26 different MCDM methods and no formal selection procedure for selecting the appropriate method for a given application (Bufardi et al., 2003). While MCDM is undoubtedly highly utilised in research settings, there is a definite shortage of “real world” applications (Montibeller, Gummer & Tumidei, 2006) despite its demonstrated usage in industry. An ongoing issue with MCDM is the subjectivity of the DM’s. Decision Makers may have contradictory opinions resulting in a situation whereby the solution chosen is a DM compromise as
Nurses often encountered various ethical dilemmas in the practice setting. Both virtue ethics and caring ethics support good ethical decision making for nurses (Park, 2012, p. 149) but these are inadequate to assist in solving an ethical dilemma (Park, 2012, p. 149). For that reason an ethical decision making tool is helpful for the nurses or clinicians to come up with an ethical decision (Kelly, 2012, p. 571) that allows them to gather information, identify any gap of understanding on the issue or the disagreements between the involved parties through a clear communication (Park, 2012, p. 140). Several authors presented an ethical decision making processes (Park, 2012, p. 141), here presented the two processes that can be applied in resolving an ethical dilemma. One example of ethical decision making process is the DECIDE model by Thompson, Melia & Boyd (Allen, Chapman, Francis, & O’Connor, 2008, p. 5) and the Integrated ethical decision-making model which was derived from the combination of the different ethical decision-making models strengths (Park, 2012, p. 140). These two ethical decision-making model steps are identical to each but differ on the detailed instruction on how the steps are to be done or used in actual case. By comparing the two models the integrated ethical decision-making model have a detailed instruction. The
Recognize moral issue: The issues in Fresh Taste NZ Ltd. are rude behaviour of employer with employees, ignorance of basic ethical practices by workers and providing less salary to the workers etc. All these things create ethical disputes at workplace.
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.
It also is a foundational step of the decision-making process. This methodology can be used in the environment or economic aspects in order to help the decision makers to evaluate and plan the sites that are suitable for building houses. In MCE, the decision alternatives have a preference order and use for evaluations and alternatives.For example, a high attribute value is better than the medium and medium is better than the low value, and this order can be also used in opposite. Attribute with a known preference order are called evaluation criteria (Timothy., & Nyerges. 2010). Criteria can be in different measurement scales. In mathematics, there are four measure types including nominal, ordinal, interval and ratio. Even though, they might create a problem when evaluating the decision alternatives, this kind of problem can be overcome by criterion standardization which can transform all criteria measurements onto a common scale. For example, the data can be converted from ratio to interval data, and ratio and interval data can be converted to ordinal scale. However, this transition cannot be reversed.