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The DecisionMaking Process
Information and Information Systems
Behavioural Aspects of Decision Making
5 other sections not shown
accept achieved alternative analysis approach areas assessment assumed behaviour business decision business organisations capital carrying cost cash flow chapter company's complex constraint course of action decision cycle decision maker decision problem decision theory decision tree analysis decision-making process demand deviation discount effect equivalent annual cost estimates evaluation example expected value factors feedback Figure financial ratios firm future greater greenhouses group members growth hence identified implementation important increase individual information system inputs internal rate investment involved linear linear programming long-term machine managerial market share maximise minimisation objectives operating control decisions opportunity cost optimal ordering cost outlay output particular pay-back periodic control decisions Peter Jennings possible outcomes present value probability distribution production profit promotional expenditure rate of return relatively replacement result risk short-term operating control solution specific standard deviation strategic decisions strategic management suggested techniques typically uncertainty variables