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A large number of techniques have evolved to help decision makers make prompt and accurate
decisions’. Briefly discuss any four methods/techniques evolved in decision-making
Step by step
Solved in 3 steps
- List the steps generally used in decision-making. Give example problems to each step. Required: the examples should be a scenarioDo you think flexibility is important in decision making? Explain why and justify your answer.Discuss the steps in the Problem-Solving Process and explain the steps by providing an example of how a decision-maker uses each step to solve a problem. You may choose a problem of your choice.
- You are on the lookout for a new smartphone after your old unit has gone kaput. Given so many brands available in the market, you were confused and undecided about the purchase to give you the optimum solution. a. Illustrate the EIGHT (8) steps of decision making graphically as suggested in the Decision-Making Process model.Explain the steps of decision-making process using an example. What is the difference between rational decision making, bounded rationality and intuitive decision making?34- The process of decision making starts with: a. Diagnosing the problem b. Identification of the problem c. Developing alternatives d. Selecting the best alternative
- Think of an important decision you have made. It may work or non-work related. a. Use the six steps in the decision making rational model to syematically review your decision. b. Would you have arrived at the same decision without applying the model? c. What actual or potential bias or errors may have played a factor in your decision making. Explain I am asking if you can help me come to a understanding to answer in my own words for the following an example. Thank you!entify and discuss briefly four (4) common errors that may be committed in the decision-making process.Discuss the different roles played by the qualititative and quantitiative approaches to managrial decision making. Why it is important for a manager or decision maker to have a good understanding of both of these approaches to decision making?
- List and dicuss the steps of the decision-making process.Decision-making patterns are integral to the functioning of individuals and organizations, shaping the outcomes of various situations and influencing overall success. Decisions can be categorized into different patterns based on the processes employed, ranging from intuitive and instinctive choices to analytical and data-driven approaches. The pattern chosen often depends on the nature and complexity of the decision, the available information, and the time constraints involved. Some decisions are made through a deliberate and systematic analysis of facts and data, involving careful consideration of potential outcomes and risks. In contrast, other decisions may stem from intuitive judgments, drawing on past experiences and gut feelings. Recognizing these patterns and understanding when to apply each approach is crucial for effective decision-making. Question: How can organizations foster a decision-making culture that combines the strengths of both intuitive and analytical approaches,…3 All of the following steps are a part of the decision-making process except : Select one: a. Analyzing options. b. Developing options. c. Implementing the decision. d. Defining the situation. e. Delegating the decision.
