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Managerial decision making

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Written by:

Roger F


Date added:

September 7, 2012








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3 / 774


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There are various steps a firm may undertake to structure their decisions such as recognising the decision requirement, diagnosing and analysing causes of the problem, develop alternative solutions, select the desired alternative and implement it, then seek evaluation and feedback. (Samson & Daft, 2005)...
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By utilising these steps, decision making will be much more productive and effective for managers. Hence, decision making under uncertainty is a challenge for many managers as they must be able to make assessments, weigh up the probabilities of success and make the final financial settlement in regards to the position of the firm...
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