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Now that you have studied several of the most common decision-making tools and the decision processes themselves answer questions below. Reminder Decision making process covered
Now that you have studied several of the most common decision-making tools and the decision processes themselves answer questions below. Reminder Decision making process covered were tree Diagrams, nominal group technique & Multivoting and probability outcomes
- Of the tools discussed, which would be the most effective in the case of a decision that once made could not be easily reversed, and why?
- Probability Outcome measurement is useful If you are making a decision to expand your businesses because it provides a mathematical basis for the decision. What are the primary concerns with using this tool, and why?
- Consider that when faced with making a business decision you will never have all of the information you want or need. Given that, what domain (technical, financial, marketing, etc.) of information is the most important to have the best available information, and why?
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