Learning Objectives

4-1. Discuss the interrelationship between objectives, problem solving, and decision making in terms of their impact on the management functions.
4-2. Compare decision-making styles.
4-3. Summarize each of the steps in the decision-making model.
4-4. Apply the first step of the decision-making model by classifying a problem, selecting the appropriate level of participation, determining the cause of the problem, and determining the type of decision to be made.
4-5. Explain the difference between an objective and “must” and “want” criteria.
4-6. State the difference between creativity and innovation.
4-7. Identify five group techniques used to generate creative alternatives.
4-8. Compare quantitative techniques including big data, cost-benefit analysis, and intuition for analyzing and selecting an alternative.
4-9. Explain the importance of planning, implementing, and controlling decisions.