The difference between ambiguous and risky decision making. Introduction: Risky could be defined as something with full possibilities of danger, potential losses and failure. Further, ambiguous is a situation where it is open to numerous situations, this is when the situation is unclear or too vague to conclude. When making decision based on the above to scenarios the techniques that the managers may use could be different. Since these are of two extreme situations the approaches will be different.

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The Value Chain, Key Performance Indicators (KPIs), and Potential Opportunities for Business Process Reengineering This week’s assignment revisits the strategic initiative proposed in the Module 2 Critical Thinking assignment. What are the organization’s key processes? Given your strategic initiative, what processes must be done exceptionally well for the strategic initiative to succeed? Given these key processes, what metrics should be used to monitor the execution of these processes? (Key performance indicators typically include measures of customer satisfaction, internal process quality, employee satisfaction, and financial performance.) Monitoring processes and KPIs are part of the control process to achieve goals related to quality and efficiency. Policy creation also supports achieving goals and communicating expectations. For this assignment describe the organization. Then diagram and describe the organization’s value chain. Given the strategic initiative, identify key…

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Chapter 6, Problem 3DQ

Summary Introduction

To determine:

The difference between ambiguous and risky decision making.

Introduction:

Risky could be defined as something with full possibilities of danger, potential losses and failure. Further, ambiguous is a situation where it is open to numerous situations, this is when the situation is unclear or too vague to conclude.

When making decision based on the above to scenarios the techniques that the managers may use could be different. Since these are of two extreme situations the approaches will be different.

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