Learning Objectives

Chapter 4

  • Explain the relationship among objectives, problem solving, and decision making.
  • Explain the relationship among the management functions, problem solving, and decision making.
  • List the six steps in the decision-making model.
  • Describe the differences between programmed and nonprogrammed decisions and among the conditions of certainty, uncertainty, and risk.
  • Describe when to use rational versus bounded rational decision making and group versus individual decision making.
  • State the difference between an objective and “must” and “want” criteria.
  • State the difference between creativity and innovation.
  • List and explain the three stages in the creative process.
  • Describe the differences among quantitative techniques, the Kepner-Tregoe method, and cost-benefit analysis for analyzing and selecting an alternative.