BUS 221 Lecture 1: Intro to Business Decision Making

• School: Ryerson University
• Department: Business
• Course: BUS 221
• Professor: Chris Mac Donald

Document Summary

Good decision making has 2 components: making good decision, convincing other people. It needs to be backed by convincing others. Strong and weak arguments: decision making. How to be more precise with choice situations. 3 key elements: methods & tools skills to help arguments and decisions, critical mindset to be able to argue with reasoning, practice doing the above. Critical thinking: systematics evaluation or formulation of beliefs or statements by rational standard (reasoning/justification) Ask a series of questions to yourself and make crucial decisions. Good decisions require: understanding the problem, gather the right info, filter info, apply the info, then convince others. All these lead to great decisions as without each step the decision will have flaws and convincing other people will be hard.