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Models

by Emmanuel
(Nigeria)




Explain the relevance of models of decision making in business operations.




Comments for
Models

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Apr 28, 2011
Results
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If an organization decides on a model they think is the best available and all managers follow that model exactly then the results will more likely be uniform. They think the results will be good.

Mar 24, 2010
Models of Decision Making
by: Dee Reavis

Models of decision making provide a formal method for coming to decisions. Any organization would like to make the best decisions possible. For a business for profit, maximization of profits is the goal.

If every manager in the the organization is making decisions based on his or her perception of how to make a decision, then the results can be very uneven.

The organization can decide on a model for decision making that they think is the best available. If each manager is required to follow that model, then the results will more likely be uniformly good.

Theoretically profit will be maximized.

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