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  2. Business decision mapping - Wikipedia

    en.wikipedia.org/wiki/Business_Decision_Mapping

    Business decision mapping (BDM) is a technique for making decisions, particularly for the kind of decisions that often need to be made in business. It involves using diagrams to help articulate and work through the decision problem , from initial recognition of the need through to communication of the decision and the thinking behind it.

  3. Decision-making - Wikipedia

    en.wikipedia.org/wiki/Decision-making

    Rational decision making is a multi-step process for making choices between alternatives. The process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. Irrational decision is more counter to logic. The decisions are made in haste and outcomes are not considered. [57]

  4. Decision management - Wikipedia

    en.wikipedia.org/wiki/Decision_Management

    The concept of decision yield, for instance, focuses on all five key attributes of decision-making: more targeted decisions (precision); in the same way, over and over again (consistency); while being able to adapt "on-the-fly" (business agility) while reducing cost and improving speed, is an overall metric for how well an organization is ...

  5. Strategic planning - Wikipedia

    en.wikipedia.org/wiki/Strategic_planning

    Strategic planning is an organization's process of defining its strategy or direction, and making decisions on allocating its resources to attain strategic goals.. Furthermore, it may also extend to control mechanisms for guiding the implementation of the strategy.

  6. Managerial economics - Wikipedia

    en.wikipedia.org/wiki/Managerial_economics

    The first step in making a business decision is to understand the problem in its entirety. Without correct analysis of the problem, any solution developed will be inadequate. [32] Incorrect problem identification can sometimes cause the problem that is trying to be solved. [33] Determine the Objective

  7. Decision analysis - Wikipedia

    en.wikipedia.org/wiki/Decision_analysis

    Decision analysis (DA) is the discipline comprising the philosophy, methodology, and professional practice necessary to address important decisions in a formal manner. . Decision analysis includes many procedures, methods, and tools for identifying, clearly representing, and formally assessing important aspects of a decision; for prescribing a recommended course of action by applying the ...

  8. Decision cycle - Wikipedia

    en.wikipedia.org/wiki/Decision_cycle

    A decision cycle or decision loop [1] is a sequence of steps used by an entity on a repeated basis to reach and implement decisions and to learn from the results. The "decision cycle" phrase has a history of use to broadly categorize various methods of making decisions, going upstream to the need, downstream to the outcomes, and cycling around to connect the outcomes to the needs.

  9. Knowledge-based decision making - Wikipedia

    en.wikipedia.org/.../Knowledge-based_decision_making

    Knowledge-Based Decision-Making (KBDM) in management is a decision-making process [2] that uses predetermined criteria to measure and ensure the optimal outcome for a specific topic. KBDM is used to make decisions by establishing a thought process and reasoning behind a decision. [ 3 ]

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