Question

Use an example from the real world that illustrates the effective, or ineffective, use of decision making using the steps listed. Discuss why they were successful or not successful. Be specific about which steps were missed, not used, ineffective, etc.

Answer 1

Answer:-

Steps of decision making

1.       Defining the problem opportunity

2.       Generating an array of possible solution

3.       Evaluating the cost and benefit associated with iT Solution

4.       Selecting a solution or response

5.       Implementing the option chosen

6.       Assessing the impact of decision making.

Example of real-world decision making the KFC wanted to enter and create outlets in Pakistan

·         The possible solutions could be to enter into a franchising agreement with the company wise operations in Pakistan.

·         The benefit would be that KFC would get the regular share of profit once the franchise outlet is established but the cost associated would be a lower share of profit and risk of the franchisor ending the contract and opening outlets with his brand name.

·         But the risk has to be taken and KFC entered into a franchising agreement with a local company.

·         Since then outlets of KFC in Pakistan has been generating consistent profits