In this article we will discuss about:- 1. Stages of Decision Making 2. Types of Decisions 3. Process 4. Theories 5. Organisation. Contents: Stages of Decision Making Types of Decisions Decision Making Process Theories of Decision Making Organisation of Decision Making 1. Stages of Decision Making: In an important sense, management is synonymous with decision making. About the stages in [...]
Two basic things are necessary in organising a decision support system development are:- 1. Central Data Bank 2. Information Centre. (i) Central Data Bank: It is the core of a decision support system. Information in one area of an organisation is made readily available for. decision making in other areas through the use of a central data bank. Recent developments [...]
There are several basic kinds of models used for making business decisions. The models are:- 1. Analog Model 2. Iconic Model 3. Verbal Model 4. Mathematical Model. 1. Analog Model: An 'analog' model is a physical representation of the real world. A mock-up of an airplane is an analog model. An architect may place a mock-up of a building to [...]