Managerial Decision Making

creating, justifying, and explaining a decision-making proposal

  • Executive Summary
    This summary is a short, carefully worded description of the problem situation that identifies the recommended solution. A brief justification and explanation of the selection method is to be included, highlighting factors that contributed to selecting the recommended alternative.
  • Decision Problem Overview
    Describe the nature and scope of the decision problem selected, its history together with causes, and the outcomes of any previous attempts to deal with it.

In order to define the problem correctly, the following questions should be addressed.

  • What is the general nature of the problem?
  • What event triggered the situation?
  • Are we imposing any constraints on the situation?
  • What are the underlying elements of the problem?
  • Are there dependencies on other decisions?

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