Lecture_03_Decision_Making

Lecture_03_Decision_Making - Decision Making Outline...

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Unformatted text preview: Decision Making Outline Definition Types of Decisions Decision Making Models ¡ Rational Decision Making Model ¡ Bounded Rationality Common Bias Group Decision Making Decision Making The process through which managers identify organizational problems and attempt to resolve them Types of Problems ¡ ¢ Straightforward, familiar, easily defined problem ¡ ¢ New problems in which information is ambiguous or incomplete Decisions Types of Decisions ¡ ¢ Decisions made in routine, repetitive, well-structured situations through the use of predetermined decision rules ¡ ¢ Decisions for which predetermined decision rules are impractical because the situations are novel and/or ill-structured Types of Decisions by Management Level Well-Structured Programmed Decisions Programmed Decisions Top Ill-Structured Lower Nonprogrammed Decisions Nonprogrammed Decisions Type of problem Level in organization Decision Making Models Normative Models ¡ ¡ Rational decision-making model Descriptive Models ¡ Describe the way people make decisions ¡ Rational...
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This note was uploaded on 04/17/2008 for the course QBA 101 taught by Professor Gnay during the Spring '08 term at Seoul National.

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Lecture_03_Decision_Making - Decision Making Outline...

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