2.2a - Decision Making Flashcards
1
Q
Scientific decision making definition
A
Making decisions based on data
2
Q
Advantages of scientific decision making:
A
- Reduced risk
- Bias is eliminated
3
Q
Disadvantages of scientific decision making:
A
- Slow process
- Stifles innovation
- Lacks creativity
- Expensive to collect and analyse
4
Q
Decision making based on intuition definition
A
Making decisions on the basis of a hunch
5
Q
Advantages of decision making based on intuition:
A
- Quick
- Cheap
6
Q
Disadvantages of decision making based on intuition:
A
- Employees may not agree
- Risk
- Biased
7
Q
What can influence the method of decision making method used?
A
- Speed of decision
- Information available
- Size of business
- Predictability of the situation
