Operations Management: Decision-Making Tools

Topics:
Decision making
Tags:
Decision-making,
Management,
Tools & Techniques,
University Of Missouri
Source:
The Curators of the University of Missouri

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Overview: Decision-making is the process of evaluating alternative courses of action to a given problem and arriving at the most suitable course of action. It entails thorough analysis of the pros and cons of every alternative solution. Scientific management facilitates decision-making. The factors of risk and uncertainty are taken into account while making decisions. The paper examines the decision theory and discusses some related models.

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Format: HTML | Size: 242KB | Date: Jan 2003 | Pages: 42

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