ADM 2336 Lecture : ADM2336 - Chapter 11 Decision Making
3 Feb 2012
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Document Summary
What is decision making? y decision making is the process of developing a commitment to some course of action y three things are noteworthy about decision making: It involves making a choice among several action alternatives. Well vs. ill-structured problems y well structured problem: existing (a), and the desired (b) states, and path from a-b are clear, simple, repetitive, familiar, offer shortcuts - rules, routines, sops, rules of thumb y. Ill structured problem: existing (a), and desired (b) states, and path from a-b are unclear, unique and unusual, complex, high degree of uncertainty, arouse controversy or conflict, programs don"t work. The complete decision maker - a rational decision making model y a rational decision maker might use a model that involves a sequence of steps that are followed when making a decision. The rational decision making process - exhibit 11. 1. Real decision makers suffer from y bounded rationality.
