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What is Managerial Decision-Making Overview about?

This document summarizes key aspects of managerial decision-making discussed in Chapter 3. It defines decision-making as identifying and resolving problems and capitalizing on opportunities. There are 7 steps in the decision-making process: 1) identifying objectives, 2) generating alternatives, 3) evaluating alternatives, 4) reaching decisions, 5) choosing implementation strategies, 6) monitoring and evaluating. Decisions can occur under certainty, risk, or uncertainty. Group decision-making has advantages

Author

Farahain Masri

Language

EN