chapter 9 - A decision that is fairly structured or recurs...

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Chapter 9 1. The nature of decision making a. Decision making defined i. Decision Making- The act of choosing one alternative from among a set of alternatives ii. Decision making steps 1. Recognizing and defining the decision situation 2. Indentifying alternatives 3. Evaluation alternatives 4. Selecting the best alternative 5. Selecting the best alternative 6. Implementing the chosen alternative 7. Following up and evaluating results b. Types of decision i. Programmed decision -
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Unformatted text preview: A decision that is fairly structured or recurs with some frequency (or both) 1. Purchase new supplies 2. Yearly decision to donate ii. Nonprogrammed decision A decision that is relatively unstructured and occurs much less often than a programmed decision 1. Unique situations c. Risk Propensity i. Risk Propensity- The extent to which a decision maker is willing to gamble when making a decision...
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This note was uploaded on 03/28/2008 for the course MGMT 370 taught by Professor Smith during the Spring '08 term at Iowa State.

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