Explain the different kinds of decision applicable in specific situation.
Q: Discuss the main basis of decision making?
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Q: List the steps in the decision-making process.
A: The Decision-making process is a step-by-step efficient way to make informed and thoughtful…
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Q: Briefly explain the different types of decision making environments. Give any one suitable method…
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Q: e expected value for each decision and select the best one.
A: EMV or Expected Monitory value indicating the weighted average of the payoff in each decision…
Q: give atleast 2 benefits of completing an aspects and impacts analysis sheet
A: Aspects and impacts analysis sheet is a generally used document in many organizations during their…
Q: List and give an examples of 4 decision making shortcuts.
A: A heuristic is a psychological shortcut that permits individuals to take care of issues and make…
Q: Explain the process of decision making. Answer neatly.
A: Decision-making is the most common way of making decisions by recognizing a decision, gathering…
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A: [Hi! Thanks for the question. As per our Bartleby guideline, we are supposed to answer only ONE…
Q: Draw the decision tree and advise Daegu
A: A decision tree is a probability tree that helps you to make a decision about some kind of process.…
Q: What is the decision Criteria to the problem of Ford Company in restructuring costs (planning and…
A: Ford is one of the leading companies and manufacturers in the automobile industry. The company was…
Q: What are the most important considerations to consider when analysing this decision situation?
A: The choice to buy the market applies to the thinking that a buyer makes before deciding on a certain…
Q: Explain what an alternative is and why it is important to decision-making.
A: Decision-making is the process and set of activities that are performed by an individual to make the…
Q: Explain the DECISION MAKING UNDER CERTAINTY?
A: Decision making is described as a process that emphasizes the identification of the alternative…
Q: Explain the main basis of Decision Making?
A: Decision-making is the essential process that helps to decide something important in an organization…
Q: What is expected value and how could it be used in a Real Estate Company? Provide a rationale and…
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Q: In recent scenario of pandemic discuss some of the ways in which the organization constrains…
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Q: What are the inputs represented in the consumer’s behavior as a system, when making the purchasing…
A: The marketing environment of a company is divided majorly into two categories i.e. the macro…
Q: What is the purpose of Decision Analysis?
A: In general terms, decision analysis refers to the systematic process that is followed in order to…
Q: Critically analysis three decision making tools or techniques which might be used in the stategic…
A: The decision-making process is very crucial because it includes identifying alternatives, gathering…
Q: What is the decision Criteria of problem in brand value and consumer confidence of Ford Company
A: DEMAND RECOGNITION Consumer Decision Processes (also known as Buyer Decision Processes) are the…
Q: Describe three kinds of decisions that can be supported using Predix. What is the value to the firm…
A: Decision-making is one of the key processes to arrive at a specific conclusion. While making a…
Q: Write a reflection on the following : 1.Module 6- M's of Production and Business Model 2.Module 7-…
A: When management occupies a central place among all the factors of production. We have other factors…
Q: Explain the steps involved in decision making.
A: The process of choosing choices by recognizing a decision, acquiring information, and evaluating…
Q: What are trade-offs? Why is careful consideration of trade-offs important in decision making?
A: Trade offs are situations in which you have to choose between two or more options to give up one…
Q: Give an example of a good decision and a bad decision in decision making ?
A: To be determined : an example of a good decision and a bad decision in decision making
Q: Describe the decision making process? Using figure?
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Q: Define the terms Evaluation and Control of market plan?
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Q: Example of decision analysis
A: Decision analysis involved decision making process. It involves identifying and assessing all the…
Q: Describe the DECISION MAKING UNDER RISK?
A: Decision making under risk is the type of decision making in which the inputs are uncertain and…
Q: How do you Identify an organization and discuss how the entity a decision package might use this…
A: INTRODUCTION: An organization is a social unit of people that is structured and managed to meet a…
Q: 1. The marketing research department of company has recommended to the Decision-making department to…
A: Given data is
Q: types of decision making
A: Decision making is a process of choosing the best options among the alternatives available. It has a…
Q: What are the realizations in doing Internal Factor Evaluation Matrix (IFEM)
A: Evaluation matrix refers to the techniques used to plan and organize the evaluation. The evaluation…
Q: Explain the purpose of decision table and method of creating a decision table ?
A: A decision table's main function is to visually depict a logical structure, which contains all…
Q: Describe the THE DECISION PROCESS AND CAUSES OF POOR DECISIONS?
A: The following are the reasons poor decision making:
Q: 7) What is a decision tree and describe how it is used in relation to expected monetary value…
A: A decision tree is a tool that represents the attributes of an event, its consequences, costs, and…
Q: Defines what words analyse and scenario analysis are meant by.
A: What-if analysis, also known as sensitivity analysis, is a technique for determining possible…
Q: Case D - Your company has been selling the following furniture products: Furniture Sales Product…
A: 1. Alphabetically sorted info: 2. Information sorted based on highest to lowest sales value in…
Explain the different kinds of decision applicable in specific situation.
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- Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What should Sharon do in this situation?Scenario 4 Sharon Gillespie, a new buyer at Visionex, Inc., was reviewing quotations for a tooling contract submitted by four suppliers. She was evaluating the quotes based on price, target quality levels, and delivery lead time promises. As she was working, her manager, Dave Cox, entered her office. He asked how everything was progressing and if she needed any help. She mentioned she was reviewing quotations from suppliers for a tooling contract. Dave asked who the interested suppliers were and if she had made a decision. Sharon indicated that one supplier, Apex, appeared to fit exactly the requirements Visionex had specified in the proposal. Dave told her to keep up the good work. Later that day Dave again visited Sharons office. He stated that he had done some research on the suppliers and felt that another supplier, Micron, appeared to have the best track record with Visionex. He pointed out that Sharons first choice was a new supplier to Visionex and there was some risk involved with that choice. Dave indicated that it would please him greatly if she selected Micron for the contract. The next day Sharon was having lunch with another buyer, Mark Smith. She mentioned the conversation with Dave and said she honestly felt that Apex was the best choice. When Mark asked Sharon who Dave preferred, she answered, Micron. At that point Mark rolled his eyes and shook his head. Sharon asked what the body language was all about. Mark replied, Look, I know youre new but you should know this. I heard last week that Daves brother-in-law is a new part owner of Micron. I was wondering how soon it would be before he started steering business to that company. He is not the straightest character. Sharon was shocked. After a few moments, she announced that her original choice was still the best selection. At that point Mark reminded Sharon that she was replacing a terminated buyer who did not go along with one of Daves previous preferred suppliers. What does the Institute of Supply Management code of ethics say about financial conflicts of interest?Explain the main basis of Decision Making?
- types of decision makingExplain what is incremental approach ? Describe an ideal situation and least ideal situation for its use ?1 (b). Explain the relevance of each of the following terms and concepts to a non management professional.I) SynergyII) Scenario PlanningIII) Bench-MarkingIV) Value Chain Analysis