BU111 Chapter Notes - Chapter 1: Exact Sciences
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BU111 Full Course Notes
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Document Summary
Description of a real life business situation that has an issue and requires a decision. Managers learn what works best through experience. Case studies bridge the gap between theory and practice. The best solution maximizes the positives while minimizing the negatives. 1 identify immediate and underlying problem/opportunity each with corresponding consequences. 3 what measures will be used to compare alternatives. Skim: get an idea, read opening and closing paragraphs, headings and charts. 2 read thoroughly and prepare an analysis. Prioritize issues and address the most important: Underlying problem: the root of he immediate problem. Identify and apply relevant models that might help achieve the best solution. Diamond e has always something to show. All alternatives must solve all decision criteria. All alternatives need to have a short and long term reality. After a solution is chosen it must be justified. Justification must have a qualitative and quantitative component.
