Notesale: Turn your study into money

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Running head: DECISION MAKING

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Decision Making
Name
Institution

DECISION MAKING

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Criteria for Determining a Good Decision
Analysis: Faithfulness of judgments
A decision made by a manager is rated not applicable if it does not involve problem
analysis
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In analysis, if a decision does not
include the intensities of preferences it is as weak decision and a decision is rated medium if it
includes direct assignments of numbers, which represent intensities made on a scale of common
understanding
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Validation
Validation is another criteria used to determine whether the manager is making the right
decisions
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Ensuring
that a decision is valid once should determine if the decision is applicable to conflict resolution,
if the decision applies to intangible activities as well as tangible activities, and if the decision is
mathematically valid that is by the use of graphs, charts and pie among others (Tillman and
Cassone, 2012)
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The objective of utilitarian is to come up with the greatest results for the great
numbers
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DECISION MAKING

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Assurance of a Good Decision
To assure that the decisions made are good one requires developing a decision criteria
metrics
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The decision-making criteria can
be either subjective or quantitative in nature
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Furthermore,
reviewing and revising the findings of previous decisions will better assure a good decision in
the future
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In making decisions, the makers
assume maximum payoffs
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Time and constraints are other factors that are assumed during the decision-making
process since the makers assume that there will be no time and cost constraints
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Credibility of Assumptions
An automobile manufacturer assumes that the demand of SUVs will rise due to increase
in gas prices
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The assumption is credible
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Therefore, the assumption is logic that the demand for
the cars will increase since they do not consume a lot of gas and people will prefer this type of
cars to save on gas cost due to increase in gas prices
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The
consumer market for automobile has consumers with different tastes, budget, and preferences
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Furthermore, some consumers do not

DECISION MAKING
prefer SUVs but prefer other car models
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An airline assumption that they are in need for an airline provided that they are no added
amenities is not a credible assumption
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Therefore, an airline cannot be developed
without added amenities
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A and Cassone, T
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A Professional's Guide to Decision Science and Problem
Solving: Define the Objectives and Identify Metrics
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Retrieved from
http://www
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com/articles/article
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(2015)
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Retrived from http://www
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com/carreviews-and-news/top-10/most-fuel-efficient-suvs-2015/2000011595/
Rozycki, E
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(2006)
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Identifying Transideological Epistemological Presuppositions, Retrieved from
http://www
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com/EGR/FalsePresupp

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