Explain the nature of “Decision Making and Problem Solving” as stated in the textbook.
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Decision making is choosing one alternative from among several. Consider a manager seeking a location for a new factory. The manager identifies a set of potential locations, assesses each in terms of a number of relevant criteria (such as cost of the land, access to transportation, the local labor force, property tax rates, and so forth). This assessment will allow the manager to eliminate some sites from further consideration but most likely there will still be multiple sites that best fit the firm’s requirements. At this point, the manager must make a decision and select one site to buy. Chapter 8
According to chapter 8 from the textbook, Decision making is choosing one alternative from among several. Decision making and issue solving are continual processes that involve assessing circumstances or problems, considering options, making decisions, and then carrying out the appropriate activities. Sometimes the decision-making process is exceedingly brief, and mental reflection occurs almost instantly.
There are strategies and approaches available to help enhance decision making and decision quality.
Decision making comes more naturally to certain people, thus they should work harder to improve the quality of their decisions.
People who are not natural decision-makers may frequently make great evaluations, but they must be more determined in acting on such findings.
Problem solving and decision making are inextricably related, and both involve creativity in discovering and creating solutions, which the brainstorming approach excels at.