Decision-Making Procedures

Rudolf Grünig () and Richard Kühn ()
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Rudolf Grünig: University of Fribourg

Chapter 5 in Successful Decision-Making, 2013, pp 33-45 from Springer

Abstract: Abstract Chapter 5 introduces into the decision-making procedures. First the notion of decision-making procedure is explained. Then four types of decision-making procedures are distinguished: general heuristic decision-making procedures, specific heuristic decision-making procedures, general analytic decision-making procedures and specific analytic decision-making procedures. It follows a comparison of heuristic and analytic procedures. Finally, to get a better understanding of the different types, three examples of decision-making procedures are given: a procedure for developing corporate strategies, the linear programming and the Harris-Wilson model for determining the optimal order quantity.

Keywords: Order Quantity; Business Unit; Corporate Strategy; Goal Function; Rule System (search for similar items in EconPapers)
Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-3-642-32307-2_5

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DOI: 10.1007/978-3-642-32307-2_5

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