Operations Chapter 5

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  1. decision
    A choice about future action.
  2. decision alternatives
    the options a decision maker considers before selecting a future course of action.
  3. problem
    a difficulty or question that needs resolution
  4. problem solving
    A process that consists of a series of steps, beginning w/the recognition of a need for action and ending with the generation of a resolution or recommendation for action.
  5. decision analysis
    a formal process for defining a decision problem and evaluation decision alternatives, emcompassing all efforts and activities leading up to a decision
  6. decision criteria
    the simple to understand rules a decision maker uses to evaluate decision alternatives.
  7. decision constraints
    the practical limitations that affect the selection of decision alternatives.
  8. risk
    the potential for unexpected outcome. In decision theory, an environment where incomplete but reliable info is available, such that the various states of nature could produce different outcomes for each decision alternative, and the decision maker is ableto assign an individual probability to each state of nature.
  9. authoritarian decision process
    a process that relies on one decision maker to dictate a choice.
  10. democratic decision process
    involves a whole group in a structured choice format with a binding commitment to implement the majority choice under a one-person, one-vote selection process.
  11. collaborative decision process
    leader gets group contributions but leader makes decision that has reasonable acceptance in the group.
  12. consensus decision process
    involves all group members in the decision process
  13. scientific method
    an approach to obtaining useful info by following systematic and rigourous research procedures.
  14. evidence based management approach
    asks the decision maker to look at the readily available objective evidence and make a reasonable decision in a reasonable time frame.
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Operations Chapter 5
2012-03-25 17:49:23

Decisions and Approaches to Decision Making
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