Deciison Making- Theories

Question 1

Stakeholder mapping

Answer 1

Help decide which stakeholders need informing about decisions, and what to do with them

Question 2

Decision trees

Answer 2

Discussing choices, opportunity costs- helps manager think through their options and probability of different outcomes and financial risk

Question 3

Scientific decision making

Answer 3

Set obj— gather data— analyse data— select—implement— review—

Allows you to have data to back up choices
See where you went wrong
Review and break down each stage
Implement, good to see if it actually works, real life testing