Decision Making: Answer the following questions.1. Can the engineer manager avoid making management decision? Why or why not?2. When a problem becomes apparent and the engineer manager chooses to ignoreit, is he making a decision? Explain your answer.3. Why is proper diagnosis of the problem important?4. What are the components of the environment from the point of view of the decision-maker? What do they consist of? 5. How may one develop viable alternatives in problem solving?6. How may alternative solutions be evaluated?7. Why is it important for those who will be involved in implementation to understand and accept the solution to the problem?8. What are the approaches in solving problem?9. What quantitative techniques are useful in decision-making?10. What is the purpose of Bayesian analysis

Understanding Business
12th Edition
ISBN:9781259929434
Author:William Nickels
Publisher:William Nickels
Chapter1: Taking Risks And Making Profits Within The Dynamic Business Environment
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Decision Making: Answer the following questions.1. Can the engineer manager avoid making management decision? Why or why not?2. When a problem becomes apparent and the engineer manager chooses to ignoreit, is he making a decision? Explain your answer.3. Why is proper diagnosis of the problem important?4. What are the components of the environment from the point of view of the decision-maker? What do they consist of? 5. How may one develop viable alternatives in problem solving?6. How may alternative solutions be evaluated?7. Why is it important for those who will be involved in implementation to understand and accept the solution to the problem?8. What are the approaches in solving problem?9. What quantitative techniques are useful in decision-making?10. What is the purpose of Bayesian analysis?
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