Decision Situations: Understand the Conditions and Elements of Making a Decision
Are you trying to understand the intricacies of decision making? Failing to comprehend the situations and conditions related to decisions? Do you need some decision situations assignment help? With a certain amount of help, you will be able to handle most problems on decisions making ably! But first, it is essential that you brush up on your basic concepts.
What are the types of decisions?
In order to understand decision situations, it is first important to learn about the various types of decisions. With the help of 24x7assignmenthelp.com, you can understand the types and the various implications that it has. There are two types of decisions-
- Programmed decisions which are regular. They are structured and can be easily handled by an organization. They are mainly handles by the lower levels of the management and might relate to decisions like buying raw materials, and so on.
- Non-programmed decisions which are less structured. It needs certain amount of logical and creativity and are usually handled by the top management.
What are the elements of decision situations?
There are essentially five elements of a decision situation. In order to understand the importance of these five elements, students opt for decision situations assignment help. These elements are:
- The people making the decision
- The objectives to be followed
- The alternative solutions
- Listing the alternatives in an order
- Choosing an alternative
What are the conditions under which decisions are made?
An integral part of decision situation is to understand the conditions under the influence of which decisions are taken. This can be done with the help of decision situations assignment help. There are basically three conditions under which decision makers have to make a decision. They are:
- Decisions taken under certain established conditions.
- Decisions taken under risk where each alternative is associated with some risk.
- Decisions taken under uncertain conditions where the alternatives or the risk associated with them are not completely known.
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