The Science of Decision Making
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This paper points out that all businesses require a great deal of decision-making and that successful decisions are vital to the success of a business. It then examines a systematic approach to the decision- making process which companies can use to determine their best course of action.
From the Paper:"The practice of business is the practice of making decisions. How many are needed for the sale staff? How do we best position our product in the market? What should our advertising strategy be? If we downsize, will it increase profits? The use of "Decision Science" attempts to provide a framework through which business managers can evaluate multiple possible courses of actions and generate plans well suited to their current needs and future goals and plans."
Cite this Essay:
The Science of Decision Making (2003, June 19) Retrieved September 28, 2023, from https://www.academon.com/essay/the-science-of-decision-making-27959/
"The Science of Decision Making" 19 June 2003. Web. 28 September. 2023. <https://www.academon.com/essay/the-science-of-decision-making-27959/>