Decision making the essence 6(ppt 29页)

Decision making the essence 6 Intorduction:
The Decision-Making Process
Define decision and decision-making process.
Describe the eight steps in the decision-making process.
Explain the challenges managers face in identifying problems.
Discuss why decision criteria are important in the decision-making process.
Describe how managers develop, analyze, and select alternatives.
Explain what happens during implementation and evaluation.
The Managers as Decision Maker
Explain why decision making is synonymous with managing.
Discuss the assumptions of rational decision making.
Describe the concepts of bounded rationality, satisficing, and escalation of commitment.
Explain what intuition is and how it affects decision making.
Contrast programmed and nonprogrammed decisions.
Define the three forms of programmed decision making.
Contrast the three decision-making conditions.
The Managers as Decision Maker (cont’d)
Explain maximax, maximin, and minimax decision choice approaches.
Describe the four decision making styles.
Discuss the twelve decision-making biases managers may exhibit.
Describe how manager can deal with the negative effects of decision errors and biases.
Explain the managerial decision-making model.
Decision Making for Today’s World
Describe today’s decision-making environment.

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