Explain the difference between programmed and non-programmed decisions. Give one example of each.
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Explain the difference between programmed and non-programmed decisions. Give one example of each.
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- State three common mistakes made in the first step of the decision-making process - identify and define the problem.Explain the differences between tactical andstrategic decisions and the main trade-offs in makingstrategic decisionsWhat is bounded rationality? How is it related to decision making? What are the implications of bounded rationality and its relation to decision making for the workplace? Examples
- In organization, which among the decision making models will give better outcome that others? Explain your answerIndividuals often shortcut the decision making process. Describe 3 of these shortcuts and provide examples of how these could impact a Managers' decision in the Workplace.With a relevant example, explain programmed decision-making with application to Eskom.
- What are the business related facts within the scenario to develop an argument in favor of a group decision versus an individual decision?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?1. What is benchmarking? And how should it be implemented? 2. Define three common decision-making biases and give an example of each.