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Decision making analysis is a process wherein the decision making process is systematically followed to ensure that the right decision is taken.
The steps that can be taken are-
- Identify the need for making a change
- Scrutinize that the change is in line with overall objectives of firm
- Check the resources available for implementing the change
- Formulate a framework to see the end result of the decision
- Evaluate alternatives
- Pick the best method
- Implement the decision
- Review it periodically.
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∙ 11y ago
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What has the author Derek W Bunn written?
Derek W. Bunn has written: 'Analysis for optimal decisions' -- subject(s): Decision making, Management science 'The synthesis of forecasting models in decision analysis' -- subject(s): Bayesian statistical decision theory, Decision making, Forecasting, Mathematical models 'Applied decisionanalysis' -- subject(s): Decision making, Decision-making, Mathematical models
