Decision-making framework: You will use the DECIDE model to make your decision. The DECIDE model is a six-step decision-making framework that stands for: Define the problem Establish the criteria Consider all the alternatives Identify the best alternative Develop and implement a plan of action Evaluate and monitor the decision Scenario: Imagine that you are the CEO of a small business that sells handmade jewelry. Your business has been growing steadily for the past few years, and you are now considering expanding into a new market. You have narrowed down your options to two cities: New York City and Los Angeles. Instructions: Use the DECIDE model to make a decision about which city to expand into. Be sure to include all of the steps in the DECIDE model in your post. Be as specific as possible when describing your scenario. What are the pros and cons of each city? What are the criteria that you will use to make your decision?

Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
Section: Chapter Questions
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Decision-making framework: You will use the DECIDE model to make your decision. The DECIDE model is a six-step decision-making framework that stands for:

  • Define the problem
  • Establish the criteria
  • Consider all the alternatives
  • Identify the best alternative
  • Develop and implement a plan of action
  • Evaluate and monitor the decision

Scenario:

  • Imagine that you are the CEO of a small business that sells handmade jewelry. Your business has been growing steadily for the past few years, and you are now considering expanding into a new market. You have narrowed down your options to two cities: New York City and Los Angeles.

Instructions:

  • Use the DECIDE model to make a decision about which city to expand into.
  • Be sure to include all of the steps in the DECIDE model in your post.
  • Be as specific as possible when describing your scenario. What are the pros and cons of each city? What are the criteria that you will use to make your decision?
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