Decision-making procedures

Rudolf Grünig () and Richard Kühn ()
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Rudolf Grünig: Université de Fribourg LS für Unternehmensführung
Richard Kühn: Universitét Bern Fak. Rechts-/Wirtschaftswissenschaften Inst. Marketing/Unternehmungsführung

Chapter 4 in Successful Decision-making, 2009, pp 41-55 from Springer

Abstract: A decision-making procedure can be defined as a system of rules for obtaining and analyzing information which can be applied to the resolution of a certain type of decision problem (Grünig, 1990, p. 69 f.; Gygi, 1982, p. 20; Klein, 1971, p. 31; Kühn, 1978, p. 52 and 139; Little, 1970, p. B-469 f.; Streim, 1975, p. 145 f.). A decision-making procedure must present a system of rules which addresses all the essential sub-tasks involved in resolving a decision problem. These are: problem discovery and analysis, the development and evaluation of options, the specification of the overall consequences of the options and the decision. Rules that only support the actor in overcoming one of these tasks are not referred to as decision-making procedures.

Keywords: Decision Problem; Order Quantity; Corporate Strategy; Goal Function; Cost Centre (search for similar items in EconPapers)
Date: 2009
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DOI: 10.1007/978-3-642-00854-2_5

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