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 problemEstablish the criteriaConsider all the alternativesIdentify the best alternativeDevelop and implement a plan of actionEvaluate and monitor the decisionScenario: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?

The DECIDE model is a structured decision-making framework that consists of six main steps: define…

Answered: Decision-making framework: You will use…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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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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