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When a decision is made what two things is a decision maker considering?
Wiki User
∙ 9y ago
Two things a decision maker considers when making a decision are future costs and benefits of the decision. Other things are sometimes considered when making decisions including future consequences of the decision.
Wiki User
∙ 9y ago
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What terms is defind as a decision made after considering all of the information available?
informed decision
What economics decision?
a decision that depends on the economy that is currently in place. the decision must depend on the economy of the time that the decision is made.
What is the difference between individual and group decision making?
An individual decision is a decision that was made by one person. A group decision is a decision that was crafted by multiple people.
Rational comprehensive theory of decision making?
The Rational Comprehensive theory of decision making is not to be confused with rational choice theory. The Rational Comprehensive Theory of decision making is a theory that when perceived as how decisions should be made is normative and when viewed as how decision are made is empirical. The Rational Comprehensive theory of decision making has six key elements. First, the decision maker is faced with a problem which can be isolated from other problems or at the minimum can be significantly considered in comparison to them. Secondly, the goals, values, and objectives motivating the decision maker are explicit and can be ranked according to importance. Thirdly, the alternative methods for dealing with the problem are scrutinized. Fourthly, the outcomes of each alternative (i.e. costs/benefits and advantages/disadvantages) are examined. Fifthly, each alternative along with its attendant outcomes is then compared with the other alternatives. The decision maker will choose the alternative, and its outcome, that maximizes attainment of his/her goals, values, and objectives (this is call optimization). The Rational comprehensive decision making theory has been criticized for its implausibility being such that it demands far more than is intellectually possible ignoring the decision makers probable lack of information, limited knowledge of costs/benefits of an alternative/limited ability to appraise all costs/benefits, difficulty in defining the problem at hand in the first place, and inapplicability to collective decision making where all values, beliefs, and objectives are not in perfect accord. Furthermore, sunk costs are often an issue affecting decision making and complicating the consideration of many alternatives impede on the fundamental idea of rational comprehensive decision making which demands consideration of ALL possible alternatives. In short, it is mostly viewed as unrealistic and idealistic.
When one decision is made the next best alternative decision not selected is called?
Opportunity Cost
What terms is defind as a decision made after considering all of the information available?
informed decision
What are the components of the environment from the point of view of the decision-maker What do they consist of?
From the decision-maker's perspective, the components of the environment consist of internal factors (such as the organization's resources, goals, and structure) and external factors (including economic conditions, competitors, market trends, and regulatory constraints). These components influence the decision-making process and shape the strategic choices made by the decision-maker. Understanding these components is crucial for assessing risks and opportunities in the environment.
What can you substitute Cooper for?
A cooper made barrels, among other things, so barrel maker.
What is the meaning of Wright?
A "wright" was a person who made things - a carpenter, builder or joiner. For instance a "cart wright" a maker of carts, a "wheel wright" a maker of wheels.
Why is the define research objectives stage of the research process probably the most important?
ukinam antonete
Why was it important for romes laws to be written down?
Because considering the size and population that the laws of Rome covered there could never be agreement on the the law if there was no central reference point to refer to when a legal decision had to be made.
Who made decisions during the American Revolution?
The main decision maker was the Continental Congress-- by the way, George Washington wasn't the only general, there were many others.
Who is better Tim Tebow or mark ingram?
A decision can't really be made, considering they play different positions.
Why are babys made that way?
well, babies are living things and they are worshiped all and the way they r made is a part of their history and devolpment considering it is nasty and weird i will not go into details.
Where can I find the canvas support for the Walmart Arched Swing?
It would come from the maker of the swing. Walmart sells things made by others. Find the model number, contact Walmart, determine who the maker was, and contact the maker. Of contact a company that makes awnings or sails for boats, and have them make one for you.
What is a rush decision?
A decision made in a rush. In other words a decision which is made quickly and without much thought.
Was not a decision made by the second continental congress?
The decision that was not made was to have war with the British.
