C
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A
certain environment: offers complete information on
possible action alternatives and their consequences. |
The classical
decision model:
describes how managers ideally make decisions using complete
information. |
A code of
ethics:
is a written document that states values and ethical
standards intended to guide the behavior of employees. |
A competitive
advantage:
is a special edge that allows an organization to deal with
market and environment forces better than its competitors. |
Continuous
improvement involves always searching for new ways to
improve operations quality and performance. |
Cost-
benefit analysis involves comparing the costs and
benefits of each potential course of action. |
Creativity
is ingenuity and imagination that result in a novel
solution to a problem. |
A crisis
problem is an unexpected problem that can lead to
disaster if not resolved quickly and appropriately.
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D
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A
decision
is a choice among alternative courses of action for dealing
with a problem. |
Decision
making involves the identification of a problem and the
choice of preferred problem – solving alternative.
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G
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A
group decision is a decision mode with the full
participation of all group members.
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H
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· Heuristics are
strategies for simplifying decision making.
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I
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An individual decision
is made when a manager chooses a preferred course of action
without consulting others.
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N
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A non programmed decision
is a unique and specifically tailored to a problem at hand.
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P
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A problem
is a difference between an actual situation and a desired
situation. |
A problem solving
is the process of identifying a discrepancy between an
actual and desired state of affairs and then taking action
to resolve it.
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R
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A risk environment
is a problem environment in which information is lacking,
but some sense of the probabilities associated with action
alternatives and their consequences exists.
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S
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Satisfying
involves choosing the first satisfactory alternative that
comes to your attention. |
A structured problem
is familiar, straight forward, and clear in its information
requirements.
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U
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An uncertain environment
is a problem environment in which information is so poor
that it is difficult even to assign probabilities to the
likely outcomes of know alternatives. |
An unstructured problem
involves ambiguities and information deficiencies.
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V
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Vision
is a term used to describe a clear sense of the future. |
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