A graduate level class in managerial decision making teaches a process for making decisions and analyzing risks. The process uses typical inputs and outputs in an organiation such as materials, information, employees, new products, and resource allocation. The process does two things. First, it provides a logical way to analyze information and integrates diverse tasks and work processes. Secondly, the process analyzes management behavior and links a variety of activities and concludes with a coherent and orderly view of management. The variety of work activities are considered as processes starting with organizational processes. Organizational processes are divided into three areas: work processes, behavioral processes, and change processes. These processes break down further into areas such as communication processes, organizational learning processes, change processes, managerial processes, direction-setting processes, and many other work activities that are processes. The decision-making and risk analysis processes were analyzed using software that considered all the possibilities, assigned probabilities, integrated various factors, and led to a calculated decision. The software creates a decision-making tree, a risk analysis model, an influence factor model, and simulated variations. The software used in the class was made by Palisades, but there are other creators of decision-making soft such as Decision Pro. If you want to systematically analyze the decisions you have to make and your exposue to risk, you may want to consider decision-making software. The software can be found on the internet, and they usually allow you to download trial versions. It is interesting, but complicated to use. Jo Ann Joy, Esq., MBA, CEO Copyright 2006 Indigo Business Solutions. All rights reserved. You may contact Jo Ann by phone at (602) 663-7007, by fax at (602) 324-7582, by email at joannjoy@Indigo Business Solutions.net, and by mail at 2313 East Ocotillo Rd., Phoenix, AZ 85016 The future of your business starts here! |
