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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A crash plan is something we often forget to consider. What happens if my internet goes down or electricity goes out and I have an assignment due? Having a back-up plan is always important. Answer the following: 1. In the event your primary computer crashes and loses all data, what is your back-up plan?

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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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