decision making Flashcards
1
Q
what are programmed decisions
A
familiar routine decisions
2
Q
what are non programmed decisions
A
less structured and require unique soloutions
3
Q
whats opportunity cost
A
the next best alternative forgone
4
Q
what is scientific decision making
A
based on data and uses a logical rational approach
5
Q
what is decison based of itntition or hunch
A
not using data and irrational / riskier however saves time
