After studying this chapter, you should be able to:

• Discuss the relationship among objectives, problem solving, and decision making and their relationship among the management functions.
• Describe when to use rational (maximizing) versus bounded rational (satisficing) decision making and group versus individual decision making.
• Explain the difference between an objective and “must” and “want” criteria. 
• State the difference between creativity and innovation and identify five group techniques used to generate creative alternatives.   
• Compare quantitative techniques including big data, cost-benefit analysis, and intuition for analyzing and selecting an alternative.  
• Explain the importance of planning, implementing, and controlling decisions.