1This is the "the process of identifying and choosing alternative courses of action in a manner appropriate to the demands of the situation."
Decision Making
2What are all the Decision Making Processes?
Diagnose Problem
Analyze Environment
Articulate Problem or Opportunity
Develop Viable Alternatives
Evaluate Alternatives
Make a Choice
Implement Decision
Evaluate and Adapt Decision Results
3This is the tantamount to having the problem half-solved.
Diagnose the Problem
4This is the indentifications of constraints, which may be spelled out as either internal or external limitations.
Analyze the Environment
5This refers to organizational activities within a firm.
Internal Environment
6This refers to variables that are outside the organization and not typically within the short-run control of top management.
External Environment
7What are all the aspects of Internal Environment?
Organizational Aspects
Marketing Aspects
Personnel Aspects
Production Aspects
Financial Aspects
8This is the org. structure, policies, procedures, rules, ability of management, etc.
Organizational Aspects
9This is the product strategy, promotion strategy, etc.
Marketing Aspects
10This is the recuitment practices, incentive systems, etc.
Personnel Aspects
11This is the plant facility layout, inventory control, etc.
Production Aspects
12This is the liquidity, profitability, etc.
Financial Aspects
13What are all the aspects of External Environment?
Government
Labor Unions
Suppliers
Banks
Public
Competitors
Clients
Engineers
14What are all the process of Developing Viable Alternatives?
Prepare a list of alternative solutions
Determine the viability of each solutions
Revise the list by striking out those which are not viable
15This is where proper evaluation makes choosing the right solution less difficult.
Evaluate Alternatives
16This refers to the process of selecting among alternatives representing potential solutions to a problem.
Choice Making
17This refers to carrying out the decision so that the objectives sought will be achieved.
Implementation
18This refers to the process which requires checking at each stage.
Feedbacks
19This is where you use intuition and subjective judgement.
Qualitative Evaluation
20This is where you use any technique in a group classified as rational and analytical.
Quantitative Evaluation
21What are all the Quantitative Models for Decision Making?
Inventory Models
Queueing Theory
Network Models
Forecasting
Regression Analysis
Simulation
Linear Programming
Sampling Theory
Statistical Sampling Theory
22What are all the types of Inventory Models?
Economic Order Quantity Model
Production Order Quantity Model
Back Order Inventory Model
Quantity Discount Model
23This is used to calculate the number of items that should be ordered at one time to minimize the total yearly cost.
Economic Order Quantity Model
24This is an economic order quantity technique applied to production orders.
Production Order Quantity Model
25This is an inventory model used for planned shortages.
Back Order Inventory Model
26This is used to minimize the total cost when quantity discount is offered.
Quantity Discount Model
27This is used to determine the number of service units that will minimize both costumer waiting time and cost of servise.
Queueing Theory
28This is where large complex tasks are broken into smaller segments that can be managed independently.
Network Models
29This is the collection of past and current information to make predictions about the future.
Forecasting
30This is a forecasting method that examines the association between two or more variables.
Regression Analysis
31This is used to represent reality on which conclusions about real-life problems can be used.
Simulation
32This is used to produce an optimum solution within the bounds imposed by constraints upon the decision.
Linear Programming
33This is a quantitative technique where samples of populations are satistically determined.
Sampling Theory
34This refers to the rational way to conceptualize, analyze and solve problems.
Decision Theory