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15 Cards in this Set
- Front
- Back
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6 Step-Decision-Making Process
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1.Identify problem
2. Data collection 3.Generate solutions 4.Test Solution 5.solution selection 6. Implement solution |
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3-Decision-Making Essential
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1. Strategic
2. managerial 3. Operaional |
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Operational decision making
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core business activities required to run the day to day operations
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Managerial decision making
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evaluate company operation to identify, adapt to, and leverage change
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Strategic decision making
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managers develop overal strategies , goals, and objectives
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Metrics
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measuring success and evaluates whether project is meeting goals
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Project
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a temporary activity a company undertakes to create a unique product, service, or result.
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Critical success factors (CSFS)
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crucial steps companies make to perform to achieve their goals and objectives and implement strategies EX: earning degree, eating healthier....
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Key performance indicators (KPI)
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metrics companies use to evaluate progress toward CSFS.
EX: number of product returns, turnover rate of employees.. |
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Market Share
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portion of the market that a firm has.
EX: 10million in market you own 2 million you own 20% of market |
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Model
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simplified representation or abstraction of reality
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Artificial Intelligence
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simulate human intelligence such as ability to reason and learn
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Transaction processing system (TPS)
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basic business system that assist in making structured decisions
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Source document
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the original transaction record
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4 DSS analysis techniques
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1. what-if analysis
2. Sensitivity analysis 3. Goal seeking analysis 4. Optimization analysis |
