Chapter 1

What is the first step in decision-making process?

• Evaluate all the risks and consequences.

• Make the decision and execute it.

• Gather all your information needed to inform your decision.

• Identify the end goal.

What is the final step in decision-making process?

• Evaluate all the risks and consequences.

• Make the decision and execute it.

• Evaluate the decision after the fact.

• Identify the end goal.

What are factors affecting decision making?

• Economic social factor

• Economic achievement factor

• Organizational factor

• Unconnected factor

Which are facets of Economic factors?

• Pros and Cons Analysis

• Resource depletion

• Resource Availability

• Cost-Benefit Analysis

Which are facets of Social factors?

• Social history research

• Cultural Norms and Values

• Demographics

• Social value reservation

Which are facets of Organizational factors?

• Organizational Structure

• Leading fashion style

• Organizational Culture

• Leadership and Management Style

What are facets of Personal factor?

• Personal Ethics

• Cognitive Abilities

• Emotions

• Experience and Knowledge

Name an example of Decision-Making Processes Successes

• Blockbuster and Borders

• Coca-Cola in 1985

• Kodak

• Newspapers

Data is classified into

• Qualitative and Qualification

• Qualification and Quantitative

• Qualitative and Quantitative

• Qualitative and Quotation

How many data types?

• 1

• 2

• 3

• 4