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  • The Decision Ma

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    Jonel Desamparado
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    The document outlines the steps in the decision making process which includes defining the problem, setting criteria, identifying alternative courses of action, determining the consequences of each alternative, evaluating the alternatives, and choosing the best alternative. It also notes that for each decision, criteria must be set based on company goals like profit maximization and cost minimization in order to aid in selecting the optimum alternative course of action.

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    The document outlines the steps in the decision making process which includes defining the problem, setting criteria, identifying alternative courses of action, determining the consequences of each alternative, evaluating the alternatives, and choosing the best alternative. It also notes that for each decision, criteria must be set based on company goals like profit maximization and cost minimization in order to aid in selecting the optimum alternative course of action.

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    9 views1 page

    The Decision Ma

    Uploaded by

    Jonel Desamparado
    The document outlines the steps in the decision making process which includes defining the problem, setting criteria, identifying alternative courses of action, determining the consequences of each alternative, evaluating the alternatives, and choosing the best alternative. It also notes that for each decision, criteria must be set based on company goals like profit maximization and cost minimization in order to aid in selecting the optimum alternative course of action.

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    © All Rights Reserved
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    THE DECISION MAKING PROCESS

    The decision making process involves the following


    a.Defining the problem
    b. Setting of criteria
    c. Identifying the alternative courses
    d. Determination of possible consequences of the alternatives
    e. Evaluating the alternatives
    f. Choosing The best alternative and making the decision
    As earlier mentioned, a decision making problem or alternative choice decision exists when a
    need arises for the manager to consider alternative courses of action. For each decision making
    case, criteria for good judgment must be set to serve as bases for choosing the best alternative
    course of action. In most cases, these criteria are set considering the company's goals such as
    profit maximization, cost minimization and the optimum utilization of the company's capabilities
    and scarce resources.

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