Introduction of Different 'Easy to Handle' Decision Making Techniques

Business & Finance
Cover of the book Introduction of Different 'Easy to Handle' Decision Making Techniques by Matthias Ackermann, GRIN Verlag
View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart
Author: Matthias Ackermann ISBN: 9783656977605
Publisher: GRIN Verlag Publication: June 11, 2015
Imprint: GRIN Verlag Language: English
Author: Matthias Ackermann
ISBN: 9783656977605
Publisher: GRIN Verlag
Publication: June 11, 2015
Imprint: GRIN Verlag
Language: English

Research Paper (undergraduate) from the year 2015 in the subject Business economics - Miscellaneous, FOM Hochschule für Oekonomie und Management gemeinnützige GmbH, Hochschulstudienzentrum Freiburg, course: Management Decision Making, language: English, abstract: The most important job of any executive is making decisions. It is also the toughest and riskiest job, because bad decisions can damage a business and a career, in some situations irreparably. In many cases these bad decisions occur when alternatives were not clearly defined, the right information was not collected, the costs and benefits were not accurately weighed, or the decision maker himself was sabotaged by the human brain. In the present complex environment, the executives call for a way to cope with the myriad factors that affect the achievement of goals and the consistency of the judgement the decision makers use to draw valid conclusions. (Harvard Business Review 2011, p. 1, Saaty 2013, p. 6) Many difficulties like uncertainty about the future, variation of consequences of different actions, difficulties because of too few or too many available alternatives, and complexity of a decision situation, if more factors have to be taken into account, make it more important to support the decision makers with procedures and tools that have been developed for a systematic selection of requirements and processing of relevant information. The general approach of decision making ranges from the highly complex problems to the relatively simple choices but ensures its applicability and can be helpful in various decisions. So it is not only relevant to executives and managers but also to physicians, politicians, judges, and engineers to structure analytical thinking which supports decision making perceived as rational and well-founded. (Eisenfuhr et al. 2010, p. 3) This assignment introduces different 'easy to handle' decision making techniques that help to decide rather on intuition than on structured analysis and methodical dissection.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

Research Paper (undergraduate) from the year 2015 in the subject Business economics - Miscellaneous, FOM Hochschule für Oekonomie und Management gemeinnützige GmbH, Hochschulstudienzentrum Freiburg, course: Management Decision Making, language: English, abstract: The most important job of any executive is making decisions. It is also the toughest and riskiest job, because bad decisions can damage a business and a career, in some situations irreparably. In many cases these bad decisions occur when alternatives were not clearly defined, the right information was not collected, the costs and benefits were not accurately weighed, or the decision maker himself was sabotaged by the human brain. In the present complex environment, the executives call for a way to cope with the myriad factors that affect the achievement of goals and the consistency of the judgement the decision makers use to draw valid conclusions. (Harvard Business Review 2011, p. 1, Saaty 2013, p. 6) Many difficulties like uncertainty about the future, variation of consequences of different actions, difficulties because of too few or too many available alternatives, and complexity of a decision situation, if more factors have to be taken into account, make it more important to support the decision makers with procedures and tools that have been developed for a systematic selection of requirements and processing of relevant information. The general approach of decision making ranges from the highly complex problems to the relatively simple choices but ensures its applicability and can be helpful in various decisions. So it is not only relevant to executives and managers but also to physicians, politicians, judges, and engineers to structure analytical thinking which supports decision making perceived as rational and well-founded. (Eisenfuhr et al. 2010, p. 3) This assignment introduces different 'easy to handle' decision making techniques that help to decide rather on intuition than on structured analysis and methodical dissection.

More books from GRIN Verlag

Cover of the book Das Delikt der Kindstötung in seiner Entwicklung von 1507 bis 1998 by Matthias Ackermann
Cover of the book Shakespeare's sonnets and the Petrarchan tradition by Matthias Ackermann
Cover of the book Gender-Stereotyping in Children's Literature. A Case Study on the children's novel 'Matilda' by Roald Dahl by Matthias Ackermann
Cover of the book Positionierung von Destinationen by Matthias Ackermann
Cover of the book Interkulturelles Lernen in der Schule by Matthias Ackermann
Cover of the book Wirtschaftlicher Aufholprozess und Konjunkturzyklen in Mittel- und Osteuropa sowie Ostasien by Matthias Ackermann
Cover of the book Chancengleichheit ausgeschlossen - Eine Betrachtung anhand der Erklärungsansätze von Pierre Bourdieu by Matthias Ackermann
Cover of the book Trauer und Melancholie by Matthias Ackermann
Cover of the book Die Kompostierung von Schweineexkrementen in der Provinz Can Tho (Vietnam) by Matthias Ackermann
Cover of the book Risikomanagement, -controlling und -berichterstattung by Matthias Ackermann
Cover of the book Der Wandel unseres Kunstbegriffs by Matthias Ackermann
Cover of the book Grundlegende und notwendige Voraussetzungen für den erfolgreichen Schriftspracherwerb by Matthias Ackermann
Cover of the book Der Kinderfilm 'Himmel ohne Sterne' by Matthias Ackermann
Cover of the book Fördert Mediengewalt die Aggressionsbereitschaft? by Matthias Ackermann
Cover of the book Institutionelle Neuerungen durch den Vertrag von Lissabon by Matthias Ackermann
We use our own "cookies" and third party cookies to improve services and to see statistical information. By using this website, you agree to our Privacy Policy