Explain the process of decision making. Answer neatly.

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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Explain the process of decision making. Answer neatly.

PROCESS OF DECISION MAKING
Defining the Problem
Collection of Data
Analysis of Problem
Finding the Course of Problem
Identification of Resources
Development of Criteria for Successful Solution
Selection of Alternative
Implement Decisions
Follow Up
Transcribed Image Text:PROCESS OF DECISION MAKING Defining the Problem Collection of Data Analysis of Problem Finding the Course of Problem Identification of Resources Development of Criteria for Successful Solution Selection of Alternative Implement Decisions Follow Up
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