a) Define decision-making. Explain the ways in which decision-making effectiveness can be enhanced.
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- a) Define decision-making. Explain the ways in which decision-making effectiveness can be enhanced.
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Solved in 2 steps
- What can groups or group leaders do to improve the quality of group decision-making?Explain the steps of decision-making process using an example. What is the difference between rational decision making, bounded rationality and intuitive decision making?describe an original decision-making scenario that conveys how the heuristic (availiability, representativeness, or confirmation) and associated bias(es) played a part in the outcome
- Identify and discuss the steps in rational decision-making process.Discuss the different roles played by the qualititative and quantitiative approaches to managrial decision making. Why it is important for a manager or decision maker to have a good understanding of both of these approaches to decision making?Explain consensus decision-making, give examples and also the advantages and disadvantages of this type of decision-making.
- Explain the Rational decision-making, Bounded rationality decision-making and Intuitive decision-making. Give one example of eachDifferentiate between extensive decision making and Limited decision making ? Give an example of each?What are the key decision criteria used in decision making under uncertainty. Briefly explain each of them.