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Chapter 6 Decision Making

Making decisions under conditions of risk and uncertainty is one of the most important activities that managers engage in. Generally, there is a lack of information and a limited amount of time available to make the decision. Procrastinating and not making a decision sometimes has greater risk than making it. | Decision McGraw-Hill 2004 The McGraw-Hill Companies Inc. All rights reserved. Chapter Learning Objectives After reading this chapter you should be able to Know how to implement the six stages of management decision making. Apply the criteria of quality and acceptance to a decision. Recognize the characteristics of management decisions programmability uncertainty risk conflict and decision scope. Reap the advantages and avoid the disadvantages of group decision making. Develop the skill of time management to allow adequate time to make decisions. Know when to delegate and do so wisely. McGraw-Hill 2004 The McGraw-Hill Companies Inc. All rights .