This 5 page paper looks at the decision making process, focusing ion hard systems methodology. Examining the strengths and weakness and then looking at how one hard system; game theory, may be applied. The bibliography cites 5 sources.
Name of Research Paper File: TS14_TEdmaking.rtf
Unformatted Sample Text from the Research Paper:
made will need to incorporate information regarding potential influences on sales and how the firm may beet influence or react in order to maximise its opportunities. The main stages
are the same in all processes; to define the problem, to consider the alternatives, to evaluate the best course of action and to make the decision. This process may take
seconds, or may take months, depending on the context. With this process there will also be three major components that are all present in the different models. The criteria, which
are the standards that will be used by those making decisions to evaluate the alternatives, these have also been referred to as the interests (Simon, 1947). The next are the
alternatives, which are the different options that may be chosen and finally the aspect of cause and effect, these may be elements that are based on human assuming, of one
thing is done another will occur, as well as the attitude of the decision maker (Simon, 1947). The understanding of decisions making has developed and more stages and criteria may
be present in some models. Hard systems thinking is a model that is used to solve problems in a logical manner using factual data to meet a set goal or
objective. There is a very basic concept to this, which is the company is at A, they want to get to B, and they want to get from A
to be in the most advantageous way. A and B are defined and then the position are defined with the collect of data and a defined decision making system. These
may include linear programming and forecasting. Linear programming is a graphical and mathematic tool by which optimum resource allocations may be assessed. The tool can be used for a variety