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Flashcards in Chapter 7 Deck (11)
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1

Two Types of Problems and Solutions

1) Structured Problems = Programmed Decisions
2) Unstructured Problems = Non-programmed Decisions

2

Structured Problems

Ones that are familiar, straightforward, and clear with respect to information needs

3

Programmed Decisions

Apply solutions that are readily available from past experiences to solve structured problems

4

Unstructured Problems

Ones that are full of ambiguities and information deficiencies

5

Non-programmed Decisions

Apply a specific solution to meet the demands of a unique problem

6

Crisis Decisions

A crisis involves an unexpected problem that can lead to disaster if not resolved quickly and appropriately

7

Types of Decision-Making Environments

1) Certain Environment
2) Uncertain Environment
3) Risk Environment

8

Certain Environment

Offers complete information on possible action alternatives and their consequences

9

Risk Environment

Lacks complete information, but offers probabilities of the likely outcomes for possible action alternatives

10

Uncertain Environment

Lacks so much information that it is difficult to assign probabilities to the likely outcomes of alternatives

11

Criteria for Evaluating Information

-Time
-High Quality
-Complete
-Relevant
-Understandable