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BOPSAT is decision-making by a B unch of P eople S itting A round T alking, which is a management practice of using sometimes inexperienced committee members to make important decisions. 1 Even though there may be considerable preparation ...
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The nutshell briefing rule is a quick and easy approach to decision making that can sometimes save time and effort in arriving at adequate judgments; however, reliance on such rules more often results in judgmental errors and can create grossly misl...
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There are four types of number scales: NOIR The nominal scale of measurement only satisfies the identity property of measurement. Values assigned to variables represent a descriptive category, but they have no inherent numerical value with res...
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When there are hard and fast "criteria" (as opposed to "objectives"), it is useful to screen out alternatives that do not satisfy the criteria. For example, alternatives for a decision may be required to be "technically feasible." Alternatives tha...
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Qualitative judgments are subjective judgments based on factors or information that can't be easily or accurately quantified. The importance of objectives, which is by definition subjective, is a qualitative judgment. The anticipated performance...
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Engaging stakeholders and subject matter experts increases participation . As people feel more engaged with decision-making and planning, they will also feel more motivated . Both increased participation and motivation can further lead to ...
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Iteration is the act of repeating a process to generate a sequence of outcomes, with the aim of approaching a desired goal, target, or result. Each repetition of the process is also called an iteration . The results of one iteration are used as...
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Overconfidence is the tendency to overestimate our ability to make good decisions. Research 1 indicates that the more experience a manager has, the more likely it is that he or she will be overconfident in making decisions. Therefore, awareness o...
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Satisficing is a decision-making strategy that aims for a satisfactory or adequate result rather than the optimal result, because aiming for the optimal solution may necessitate needless expenditure of time, energy and resources. 1 A combinatio...
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Compensatory decisions are rational decisions. In compensatory decisions, poor performance of alternatives with respect to some objectives can be overcome with excellent performance with respect to other objectives. For instance, a plane ticket th...