Value-Added Decision Making for Managers

Value-Added Decision Making for Managers

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Developed from the authorsa€™ longstanding course on decision and risk analysis, Value-Added Decision Making for Managers explores the important interaction between decisions and management action and clarifies the barriers to rational decision making. The authors analyze strengths and weaknesses of the best alternatives, enabling decision makers to improve on these alternatives by adding value and reducing risk. The core of the text addresses decisions that involve selecting the best alternative from diverse choices. The decisions include buying a car, picking a supplier or home contractor, selecting a technology, picking a location for a manufacturing plant or sports stadium, hiring an employee or selecting among job offers, deciding on the size of a sales force, making a late design change, and sourcing to emerging markets. The book also covers more complex decisions arising in negotiations, strategy, and ethics that involve multiple dimensions simultaneously. Numerous activities interspersed throughout the text highlight real-world situations, helping readers see how the concepts presented can be used in their own work environment or personal life. Each chapter also includes discussion questions and references. Web Resource The booka€™s website at offers tutorials of Logical Decisions software for multi-objective decisions and Precision Tree software for probabilistic decisions. Directions for downloading student versions of the DecisionTools Suite and Logical Decisions software can be found in the appendices. Password-protected PowerPoint presentations for each chapter and solutions to all of the numeric examples are available for instructors.Total cost objective ranked first, collecting 41% of the total weight, and was followed by accessories objective, with 25% of the total weights. ... The Honda Civic with 125, 000 miles scored 0.1 as compared to the Ford Ranger with 85, 000 miles, which received a 0.9. ... 0.5 0.5 1 0.12 Purchase cost 0.375 0.875 0.625 0.125 0.15 Mile per gallon 1 0.9 0.5 0.4 0.11 Maintenance cost 1 0.5 0.5 0 0.04 Longevity 0anbsp;...

Title:Value-Added Decision Making for Managers
Author:Kenneth Chelst, Yavuz Burak Canbolat
Publisher:CRC Press - 2011-10-05


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