Case-based decision making is a problem-solving approach that involves analyzing and making decisions based on similarities with past cases. It involves using previous experiences or similar situations to guide decision-making and develop solutions for current issues. By drawing on past instances, individuals can assess potential outcomes and make informed choices.
Michael G. Rukstad has written: 'Macroeconomic decision making in the world economy' -- subject(s): Accessible book, Case studies, Decision making, Decision-making, Macroeconomics 'Corporate decision making in the world economy' -- subject(s): Case studies, Decision making, Macroeconomics, Managerial economics
It is important to remember your values when making a decision as otherwise, the decision you make will not help you as it will not be based around your life.
Making a decision based on rationality involves considering emotions, beliefs, and values, while making a decision based on logic involves using reasoning and evidence to reach a conclusion. Rational decisions may take into account personal feelings and experiences, while logical decisions rely on facts and sound arguments.
There are classical, administrative, and political models of decision making. Making a decision requires the use of logical selection based on facts.
The three decision-making methods differ in their approach and speed. Rational decision-making involves evaluating alternatives based on logic and rationality. Intuitive decision-making relies on gut feelings and past experiences. Behavioral decision-making considers cognitive biases and emotions in the decision-making process.
if else and switch case satements
Earl Dean Bennett has written: 'Business policy: cases in managerial decision making' -- subject(s): Case studies, Decision making, Industrial management 'Business policy' -- subject(s): Case studies, Decision making, Industrial management
The major limitation of using cost-based data in decision making is that most cost-based data is backwards looking or historical and decisions are made for future actions. If there is a possibility that future costs would be different (e.g., a commodity like oil is used in the production process), there is a likelihood that the decision may be different as well. One way to minimize the limitation is to perform sensitivities on each cost basis to better understand how risky a future change in costs may be. From there, define three or four scenarios (many companies look at the worst case, expected case, target case and best case) and determine if a decision would be different in any of those cases. Finally, weight the likelihood of each case to determine what decision will be best for the company.
Making a decision with prejudice means having preconceived notions or biases that influence your judgment. Making a decision without prejudice means being impartial and making a judgment based on facts and evidence, without bias.
Michael D. Rawlins has written: 'Therapeutics, evidence and decision-making' -- subject(s): Clinical medicine, Therapeutics, Methods, Evidence-Based Medicine, Decision making, Evidence-based medicine, Decision Making, Diagnostic Techniques and Procedures
Steve Player has written: 'Cornerstones of decision making' -- subject(s): Activitiy-based costing, Decision making
Moral decision-making is based on personal beliefs about right and wrong, while ethical decision-making is guided by established principles and codes of conduct in a particular profession or society.