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Assignment #1 Making a Decision Using the Decision-Making Model

May 6, 2023

This assignment from Business class: Intro of Management, you need to use textbook, it is “Management Fundamentals: Concepts, Applications, and Skill Development, 8th edition by Robert Lussier, Sage Publishing”, Skill Builder #4-1 on pages 131 – 132.

Assignment #1

Making a Decision Using the Decision-Making Model

Complete Skill Builder #4-1 on pages 131-top of 132 in your text. See below for additional instructions. This paper should be 2-3 pages in length.

A.
Be sure to begin with an Introduction and end with a Conclusion

B.
The body of the paper is your answers to the questions and/or the details for Steps 1-6. Here are a few points of clarification:

a.
Step 1. Do not choose a bounded rational decision (i.e., decision process should go beyond finding first best option)

b.
Step 3. A decision tree is required.

c.
Step 4. Yes, you must prepare a cost-benefit analysis.

d.
Step 5. Be sure you include specific actions you will take to implement the decision and ensure you are on track. Specify indicators (how will you know) that it was the right decision (controls).

e.
Step 6. You may or may not have time to implement the decision before the due date. If you have, I would love to hear about it!

C.
Apply It. Do include your answers to these questions. If done correctly (includes good summary of the body/your process), this can be your Conclusion.

See the accompanying rubric for tips on how to get an A. This is an individual assignment worth 80 points.

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