Learning objective

This module introduces you to the company’s decision-making process.
You will learn the basics of:

  • the process and steps involved in in making a decision,
  • the criteria for evaluating the alternatives,
  • the models and tools used for the selection of the optimal alternative.

As a result, you should be prepared to organise a decision making process and to select the best possible solution.
The estimated time to go through this module is about 50 minutes; additional time will be required to study the examples in the appendix.

Introduction

Both in everyday life and in business environment we often have to choose between alternative actions.

  • Search for innovative ideas and solutions can result in many different ideas and suggestions. How to deal with them at this point?
  • From several available alternatives, which one to select for realization, considering the incomplete information and approach to risk?
  • If you have resources for several innovative projects, how to select the appropriate product portfolio?

We have to make clear and transparent decisions. In the following, we will present some techniques which can help you.
This Module is based mainly on literature, especially on Baker D. et al., Guidebook to Decision-Making Methods, 2001 (see Bibliography for the complete information).

Download module as PDF

5_1_Decision_marking.pdf

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