Explain the description of delphi technique and how it would assist an employer in decision making
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A: Below is the solution;-
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Q: Describe the THE DECISION PROCESS AND CAUSES OF POOR DECISIONS?
A: The following are the reasons poor decision making:
Q: Discuss the differences between decision making under certainty, under risk, and under uncertainty.
A: Differences between decisions made on the basis of certainty, risk, and certainty:
Explain the description of delphi technique and how it would assist an employer in decision making ?
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- Define and describe the different types of plans defined in Table 17.1 and how organizations use them.When the idea first occurred to her, it seemed like such a win-win situation. Now she wasn't so sure. Marge Brygay was a hardworking sales rep for Inspire Learning Corporation, a company intent on becoming the top educational software provider in five years. That newly adopted strategic goal translated into an ambitious, million-dollar sales target for each of Inspire's sales reps. At the beginning of the fiscal year, her share of the sales department's operational goal seemed entirely reasonable to Marge. She believed in Inspire's products. The company had developed innovative, highly regarded math, language, science, and social studies programs for the K— 12 market. What set the software apart was a foundation in truly cutting-edge research. Marge had seen for herself how Inspire programs could engage whole classrooms Of normally unmotivated kids; the significant rise in scores on those increasingly important standardized tests bore Out her subjective impressions. Bur now, just days before the end of the year, Marge's sales were $1,000 short of her million-dollar goal. The sale that would have put her comfortably over the top fell through due to last-minute cuts in one large school system's budget. At first, she was nearly overwhelmed with frustration, but then it occurred to her that if she contributed $1,000 to Central High, the inner-city high school in her territory probably most in need of what she had for sale, they could purchase the software and put her over the top. Her scheme would certainly benefit Central High students. Achieving her sales goal would make Inspire happy, and it wouldn't do her any harm, either professionally or financially. Making the goal would earn her a $10,000 bonus check that would come in handy when the time came to write out that first tuition check for her oldest child, who had just been accepted to a well-known, private university. Initially, it seemed like the perfect solution all the way around. The more she thought about it, however, the more it didn't quite sit well with her conscience. Time was running out. She needed to decide what to do. 1. Donate the $1,000 to Central High, and consider the $10,000 bonus a good return on your investment.Describe three kinds of decisions that can be supported using Predix. What is the value to the firm of each of those decisions? Explain.
- 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.Explain the main basis of Decision Making?Describe the THE DECISION PROCESS AND CAUSES OF POOR DECISIONS?
- Explain how does the steps in decision making begin.What exactly is sensitivity analysis, and how does it help a decision maker?Explain the importance of conducting a Business Impact Analysis (BIA) in the development of a continuity plan. What information does it provide, and how does it inform decision-making?