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Managing information & decision making - Coggle Diagram
Managing information & decision making
FW for improving decisions
identification
inventory
intervention
institutionalisation
Decision making
influenced by sources, quality & reliability of info
critical thinking, analysis, reflection
Rationality
assumptions
clear & unambiguous problem
single goal
alternates known
preference = clear & constant & stable
no time or cost contraints
final choice = max payoff
bounded rationality
satisficing
Intuition
intuitive decision making - subconscious & subjective
Conditions for DM
certainty
risk
uncertainty
DM styles
linear - external data
non-linear: internal sources