Professional Documents
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RAVINDRAN
ravi@straits.my
“No looking back
system”
Strategic
Tactical
Operation
Owners make the Strategic decisions
Managers make tactical decisions
Supervisors make the day-to-day operational
decisions
Voting ~ Objectivity
Multi-voting
Matrix tabulation
Decision tree
Complex Linear
modelling
WHAT IS A BUSINESS?
Providing a product or service and charging a fee
for the same … and making profit in the process
WHAT IS A DECISION?
A step required to move forward … to cross and
problem or to pass a milestone
T1: Elements of Decision
Problems
T2: Structuring Decisions
T3: Decision Making in Practice
T4: Approaches to Decision
Making
T5: Common Decision Models &
Sensitivity analysis
T6: Making a Choice
T7: Factors influencing
organisational decision
T1: Elements of Decision Problems
Define problem
Differentiate elements of
a decision problem
T2: Structuring Decisions
Identify objectives
Generate
Evaluate options
options
T4: Approaches to Decision Making
Conditions of
Different types of
decision
decisions environment
Econometric models
Programming models
Sensitivity analysis
Simulation models
T6: Making a Choice
Decision tree
T7: Factors influencing decision
Influencing factors