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GMS200 Lecture 4

2 Pages

Global Management Studies
Course Code
GMS 200
Shavin Malhotra

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Lecture 4SHAVIN MALHOTRA Decision making Programmed decision Nonprogrammed decisionNo prior experience yThree environments for managerial decision making and problem solving in text certain environment Alternative courses of action an their outcomes are known to decision maker Risk environment Decision maker views alternatives and their outcomes in terms of probabilities Uncertain environment Decision maker doesnt know all alternatives and outcomes even as probabilities Low risk of failureHigh risk of failure Programmed type of decision Non programmed type of decision Risky Decisions New cokeThats the day the cocacola company took arguably the biggest risk in consumer goods historyyScenario in 1985 coke had been loosing mkt
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