ORGB364 - Chapter 7 - Decision-Making and Creativity Exam Questions With Verified Answers

ORGB364 - Chapter 7 - Decision-Making and Creativity Exam Questions With Verified Answers Define decision making is the process of making choices among alternatives with the intention of moving toward some desired state of affairs. define rational choice decision making the process of using pure logic and all available information about alternatives to choose the alternative with the highest value. How does rational decision making work? a formula is used to determine the best alternative by calculating the probability that various outcomes will occur from the choices and the expected satisfaction (valences) from each of those outcomes. What are the six steps in the rational choice decision process? 1. identify problem or opportunity 2. choose the best decision process 3. discover or develop possible choices 4. select the choice with the highest value 5. implement the selected choice 6. evaluate the selected choice What are five of the concerns with problem identification?