Understanding Business
12th Edition
ISBN: 9781259929434
Author: William Nickels
Publisher: McGraw-Hill Education
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What is the main role of Quantitative Techniques for Decision Making and its elements in helping the managers to make such decisions?
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- How can decision analysis be used in making technology decisions?arrow_forwardExplain the concept of the business environment and its components. How does the business environment impact decision-making in organizations?arrow_forwardDescribe the situation when the decision maker used qualitative analysis using the first two steps of the five-step decision-making process.arrow_forward
- First, read a Content on Data and How Information Supports Decision Making, paying particular attention to the Levels of Decision Making. For this discussion, we will use a retail business as an example. The retail business will consist of corporate headquarters, regions (oversees several stores in a geographic area), and individual stores. Each of these aligns with one of the three levels of decision makers in an organization. Select one of the levels of decision making and identify one decision that a manager at that level might make. The decision must relate to the retail business and what it does. Then, explain what information a manager at that level might get from the IT systems, such as inventory management or customer information system, to aid in making that decision.arrow_forwardCould there be any possible negative impacts of business intelligence on decision making processes?arrow_forwardExplain the different types of decision-making in management and discuss the factors that influence decision-making in organizationsarrow_forward
- what information or data are used by strategist in an organisation that are useful by the top executives for decision makingarrow_forwardWhy do you think managers have difficulty delegating? What can be done to overcome these difficulties?arrow_forwardHow can individuals evaluate the outcomes of their decisions, and what strategies can be used to learn from mistakes and improve decision-making patterns over time?arrow_forward
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