Kategoriak: All - decision-making - outcomes - scarcity - risk

arabera Liz Sikes 14 years ago

330

Chapter 4 - Decisions vs. Problems

Making effective decisions often involves navigating scarcity, whether it be of time, budget, or resources. Decision-makers must strategize to maximize the utility of their outcomes while assessing potential risks.

Chapter 4 - Decisions vs. Problems

Chapter 4 - Decisions & Problems

Decision-Making

assessing risk when weighing outcomes (IF this happens, THEN we'll do x)
what-if scenarios appropriate
strategizing, looking ahead to maximize utility with decision outcome
making choices under conditions of scarcity
limited time, budget, resources

Problem Solving

could be unknown risk/surprise
non-programmed decision-making: what do we do now?
could be known/anticipated risk
programmed decision: follow the plan
mitigating risk - still have to live with outcomes of decisions

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