DB 2-Quantitative Methods

DB 2-Quantitative Methods - more often than not and hence...

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Whenever decision makers need to make some complex decisions which involve uncertainties, the decision analysis model come into picture. This model is developed in order to represent the problem in decision making, provide logical analysis and suggest a course of action which is recommended for solving the problem. Decision making is something that all the people involved in running a business need to do. Not only do the people owning the business, but even the lowest level employee needs to sometimes make tough calls and decisions. However, I feel that all the business functions, which involve heavy/bulky decision making are the ones who would be faced with tough/complex decisions
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Unformatted text preview: more often than not, and hence , they should use this model. For example, some positions like managerial, executive etc are more decision heavy than others and usually the decisions one takes as a manager or as an executive can mean a difference between a successful business and an unsuccessful one. These decisions may include economic and financial planning, project and resource management. The decision analysis models provide a prescriptive framework that generates strategies which are optimal for the decision makers and helps them to deal with them affectively and appropriately....
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