Chapter 6 - Principles of Management Assignment 5 Chapter 6...

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Click to edit Master subtitle style 5/12/09 Principles of Management Assignment 5 Chapter 6
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5/12/09 8 Steps in Decision Making 1. Identifying a Problem – a problem is a discrepancy between an existing and a desired state of affairs. Problems are not always clear cut and obvious Managers must also be cautious not to confuse problems with the symptoms of the problem Mangers must be understanding of three characteristics of problems: 1. Being aware of them 2. Being under pressure to act 3. Having the resources needed to take action
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5/12/09 8 Steps in Decision Making 2. Decision Criteria – Criteria that define what’s relevant in a decision 1. Managers must determine what is relevant in making a decision 2. Depending on the problem managers may need to access things like: price, convenience, quality, warranty, etc.
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5/12/09 8 Steps in Decision Making 3. Allocating Weights to the Criteria – The system by weighing the most important criterion from highest to lowest System starts at 10, being the highest or most important criterion A criterion listed at 10 would be twice as important than a criterion listed at 5
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5/12/09 8 Steps in Decision Making 4. Developing Alternatives – The listing of alternatives to help come with a possible resolution to the problem This is a step where a decision maker wants to be creative in coming up with possible alternatives
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This note was uploaded on 05/04/2008 for the course BUSINESS 101 taught by Professor Christesen during the Spring '08 term at CUNY City.

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Chapter 6 - Principles of Management Assignment 5 Chapter 6...

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