MGT363H5 Chapter Notes -Satisficing, Bounded Rationality, Learning Organization

In terms of decision theory, an occurrence or situation over which the decision-maker has no control is called a(n):

A) decision under uncertainty.

B) decision tree.

C) state of nature.

D) alternative.

E) EMV

A company is facing a downward trend in its sales values, it is considering moving into different businesses, apply the concept of decision making, explain the steps to be used to select one business alternative and explain the challenges likely to affect the decision-making process with suitable examples