MGHD27H3 Chapter 11: Textbook Notes - Chapter 11

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10 Nov 2010
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The economic downturn in 2008 2009 is a result of decisions supported by president. Clinton and bush about making purchasing more affordable and making it more as a right rather than a privilege. Result, people took out large sums of loans that they are not able to afford or pay off. Decision making is the process of developing a commitment to some course of action. Three factors to consider: choice involves making a choice among several action alternatives, process/how the process and how a decision is made, resources committing resources such as time, money, or personnel in decision. Decision making can also be seen as a process of problem solving. Problem is a perceived gap between an existing state and a desired state. Decision-making process involves the perception of the existing state, the conception of the desired state, and the steps needed to move from one state to the other.