Detail 5 approaches to improving decision making. You can speak from the perspective of an individual, a manager, or a policy maker (or a mix).
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Detail 5 approaches to improving decision making. You can speak from the perspective of an individual, a manager, or a policy maker (or a mix).
Step by step
Solved in 3 steps
- Considering the different approaches to decision making, why are managers often unable to anticipate difficulties before they become problems? How could this issue be addressed?Decision making can be viewed as an eight-step process, use these steps in making any decision. Please use your own example?1. What is benchmarking? And how should it be implemented? 2. Define three common decision-making biases and give an example of each.
- Explain the concept of contribution and limiting factors and how it can be effectively used in decision making and explain what you understand by Budgets, Fixed Budgets and Flexible Budgets in the context of control and performance evaluation of an organization of your choice.Decision making under ignorance- what kind of situations/ problems are considered? What strategies/ methods can be used to find optimal solutions (e.g. the best alternative from a given set of alternatives)?Decision making can be viewed as an eight-step process, use these steps in making any decision. Please use your own example and do not take the examples from the PowerPoint presentation (buying a car or a computer)?
- can you explain the cutting edge approach in decision-making with examples?Answer neatly/briefly. What do you mean by “decision making?” What are the factors affecting the process of decision making?Using your own words, provide a summary (3 paragraphs minimum) of any of the topics below: Steps in the Decision Making Process
- Decision Making: Answer the following questions.1. Can the engineer manager avoid making management decision? Why or why not?2. When a problem becomes apparent and the engineer manager chooses to ignoreit, is he making a decision? Explain your answer.3. Why is proper diagnosis of the problem important?4. What are the components of the environment from the point of view of the decision-maker? What do they consist of? 5. How may one develop viable alternatives in problem solving?6. How may alternative solutions be evaluated?7. Why is it important for those who will be involved in implementation to understand and accept the solution to the problem?8. What are the approaches in solving problem?9. What quantitative techniques are useful in decision-making?10. What is the purpose of Bayesian analysis?In your opinion,what is the single major benefit using strategic management approach to decision making?Cite an examples to justify your answer.In the process of understanding customer behavior, give real examples of “Dimensions of decision making”. Also, apply the SMART framework to any business objective of your choice.