Information for Business Decision Making

Information for Business Decision Making -...

Info iconThis preview shows pages 1–9. Sign up to view the full content.

View Full Document Right Arrow Icon
Cultivating Entrepreneurial  Thoughtware Check Ego at the Door Encourage Inquisitiveness Don’t Jump to the Solution Data, Data Everywhere, but not  Information Calculate the Impact Explore Side Effects Find the Cause
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Decisions A conscious choice among two or  more alternative courses of action Routine Non-routine
Background image of page 2
    Some Companies Cut Cost Too Far Some Companies Cut Cost Too Far “Trimming the fat” “Becoming lean” “Fit and ready to compete” “YOU CAN’T SHRINK TO GREATNESS” Downsizing Results Decimated sales staffs New Product ideas languish Risk taking declines Too much expense control
Background image of page 3

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
    Some Companies Cut Cost Too Far Some Companies Cut Cost Too Far “YOU CAN’T SAVE YOUR WAY TO  PROSPERITY” Profit percentages increased Revenues did not Companies are re-hiring fired  workers Downsizing has also affected 
Background image of page 4
Entrepreneurial Decision Making  Requires Customer Knowledge   Assess the Marketplace How Do Customers Make Decisions? Evaluate What You Know and Don’t Know Make a Decision Implement the Decision Learn
Background image of page 5

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Issues Related to Accuracy of  Information Who collected the information When was the information collected Where was the information collected Why was the information collected What information was collected How was the information collected
Background image of page 6
    How to Rig a Poll How to Rig a Poll SELECTIVE REPORTING OF RESULTS TOOLS TO CREATE “BIASED RESPONSES QUESTION PHRASING RESPONSE BIAS – WHO HAS ACCESS? SELF-SELECTION – WHO WANTS TO  VENT? ANSWERING QUESTIONS MULTIPLE  TIMES – WHO HAS NOTHING BETTER TO  DO?
Background image of page 7

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
    Estimates of battered wives:  2-4 million Estimates of homelessness:  223,000 - 7 million 150,000 women die of anorexia, annually (reported) Actually, 150,000 cases, annually (few fatal) 50,000 children abducted, annually reported Actually, 5,000 abducted, annually 22% of Americans have doubts about the holocaust  (reported) Actually, 1% have doubts
Background image of page 8
Image of page 9
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 12/21/2010 for the course BUSA 5336 taught by Professor Jeff during the Summer '09 term at UT Arlington.

Page1 / 25

Information for Business Decision Making -...

This preview shows document pages 1 - 9. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online