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Decision Making Approaches
General Framework
Outline the meaning of Rationality, Bounded Rationality and Intuitive approaches to decision making.
Individual Components
1. Demonstrate a specific example of Rationality using Decision Trees
2. Demonstrate a specific example of Rationality using either a Payoff Matrix or Multivariate Analysis
3. Find and describe an example of an Intuitive approach to decision making
What effect does your organisation's facility layout have on the following (where appropriate): inter-process movement; health & safety; congestion; resource utilisation; work-in-p
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What are your thoughts around quantitative vs qualitive research methods? Can you list pros and cons for each one?
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