Steps in Rational Decision Making

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Steps in Rational Decision Making

• Recognizing and Defining Decision Situation
• Whats the Problem?
• Problem or Symptom?
• Identifying Alternatives
• Evaluating Alternatives
• Feasibility, satisfactoriness, affordability
• Selecting an Alternative
• Involves critical thinking and managerial
  judgment
• What do we know?
• What questions would we need to answer?
• What does it mean?
• What should we do?
• Implementing Chosen Alternative
• Following Up and Evaluating Results