Knowing about the steps in decision making is important for any manager. Look at various types of research designs and steps in the decision making process.
Please respond to all of the following prompts:
- Discuss the different roles played by the qualitative and quantitative approaches to managerial decision making.
- Why is it important for a manager or decision maker to have a good understanding of both of these approaches to decision making?
- Give a practical example of the steps of the decision-making process in the context of a real business example based upon a real-life problem you encountered from your job experience.
Reference
Anderson, Sweeney, Williams, Camm, Cochran, Fry & Ohlmann (2010). Quantitative Methods for Business (12th ed.). Mason, Ohio: Cengage Learning.