Podcast
Questions and Answers
What is implied by the decision maker not identifying a particular factor in the second step of the decision-making process?
What is implied by the decision maker not identifying a particular factor in the second step of the decision-making process?
What is the purpose of allocating weights to the criteria in the third step of the decision-making process?
What is the purpose of allocating weights to the criteria in the third step of the decision-making process?
What should be done with the alternatives in the fourth step of the decision-making process?
What should be done with the alternatives in the fourth step of the decision-making process?
What is the primary goal of step 5 in the decision-making process?
What is the primary goal of step 5 in the decision-making process?
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What is the outcome of evaluating each alternative against the criteria and weights in step 5?
What is the outcome of evaluating each alternative against the criteria and weights in step 5?
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What is the critical act of the sixth step in the decision-making process?
What is the critical act of the sixth step in the decision-making process?
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Why is it necessary to allocate weights to the criteria in the decision-making process?
Why is it necessary to allocate weights to the criteria in the decision-making process?
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What is the purpose of the second step in the decision-making process?
What is the purpose of the second step in the decision-making process?
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What is the primary goal of decision implementation in step 7?
What is the primary goal of decision implementation in step 7?
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What is the primary objective of planning in reducing uncertainty?
What is the primary objective of planning in reducing uncertainty?
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What is the primary benefit of involving people in the decision-making process?
What is the primary benefit of involving people in the decision-making process?
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What is the primary purpose of evaluating the results of a decision in step 8?
What is the primary purpose of evaluating the results of a decision in step 8?
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What is the primary role of planning in achieving the objectives of the organization?
What is the primary role of planning in achieving the objectives of the organization?
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What is the primary reason why some events cannot be predicted?
What is the primary reason why some events cannot be predicted?
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What is the primary goal of problem identification in the decision-making process?
What is the primary goal of problem identification in the decision-making process?
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What is the primary benefit of planning in achieving the objectives of the organization?
What is the primary benefit of planning in achieving the objectives of the organization?
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What is the primary purpose of step 6 in the decision-making process?
What is the primary purpose of step 6 in the decision-making process?
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What is the main reason why managers need to make a comparison between the current state of affairs and some standard?
What is the main reason why managers need to make a comparison between the current state of affairs and some standard?
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What is the primary outcome of problem identification in the decision-making process?
What is the primary outcome of problem identification in the decision-making process?
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What is the role of standards in problem identification?
What is the role of standards in problem identification?
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Why is problem identification considered a critical step in the decision-making process?
Why is problem identification considered a critical step in the decision-making process?
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What is the primary benefit of identifying a problem in the decision-making process?
What is the primary benefit of identifying a problem in the decision-making process?
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What is the relationship between problem identification and decision criteria?
What is the relationship between problem identification and decision criteria?
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What is the primary purpose of identifying decision criteria after problem identification?
What is the primary purpose of identifying decision criteria after problem identification?
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Study Notes
Decision-Making Process
- The decision-making process is a set of eight steps that begins with identifying a problem and concludes with evaluating the decision's effectiveness.
- Step 1: Identifying a problem or discrepancy between an existing and a desired state of affairs.
- Problem identification involves comparing the current state of affairs with a standard, such as past performance, previously set goals, or the performance of other units.
Criteria Identification
- Step 2: Identifying decision criteria that will be important in solving the problem.
- Decision criteria are not always equally important, and it's necessary to allocate weights to give them relative priority.
- A simple approach is to give the most important criterion a weight of 10 and then assign weights to the rest against that standard.
Alternative Development
- Step 4: Listing alternatives that could succeed in resolving the problem.
- No attempt is made to appraise these alternatives at this stage, only to list them.
Analysis of Alternatives
- Step 5: Critically analyzing each alternative by appraising it against the criteria.
- The strengths and weaknesses of each alternative become evident as they're compared with the criteria and weights established in steps 2 and 3.
Best Choice
- Step 6: Choosing the best alternative from among those assessed.
- The decision is made by selecting the alternative that generated the highest score in step 5.
Implementation and Evaluation
- Step 7: Implementing the decision by conveying it to those affected and getting their commitment to it.
- Step 8: Evaluating the result of the decision to see whether the problem was resolved.
- Evaluating the results of a decision is part of the managerial control process.
Objectives of Planning
- Reduce uncertainty: Planning can convert uncertainty into certainty to some extent.
- Bring cooperation and coordination: Planning can bring cooperation and coordination among various sectors of the organization.
- Economy in operation: Planning selects the best alternative, leading to the best utilization of resources.
- Anticipate unpredictable contingencies: Planning can help anticipate and prepare for unforeseen events.
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Description
This quiz covers the second step in the decision-making process, where decision makers identify and weight criteria to guide their choices. Learn how to analyze alternatives and make informed decisions.
