Chapter7Chapter7 GLOSSARYGLOSSARY EXIT Glossary Modern Management, 9 th edition Click on terms for definitions Brainstorming Complete certainty condition.

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Chapter7Chapter7 GLOSSARYGLOSSARY EXIT Glossary Modern Management, 9 th edition Click on terms for definitions Brainstorming Complete certainty condition Complete uncertainty condition Consensus Decision Decision tree Decision-making process Delphi technique Expected value (EV) Nominal group technique Nonprogrammed decisions Probability theory Programmed decisions Relevant alternatives Risk condition Scope of the decision

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary Brainstorming is a group decision-making process in which negative feedback on any suggested alternative to any group member is forbidden until all group members have presented alternatives that they perceive as valuable.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary The complete certainty condition is the decision-making situation in which the decision maker knows exactly what the results of an implemented alternative will be.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary The complete uncertainty condition is the decision-making situation in which the decision maker has absolutely no idea what the results of an implemented alternative will be.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary Consensus is an agreement on a decision by all individuals involved in making that decision.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary A decision is a choice made between two or more available alternatives.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary A decision tree is a graphic decision- making tool typically used to evaluate decisions involving a series of steps.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary The decision-making process comprises the steps the decision maker takes to make a decision.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary Delphi technique is a group decision- making process that involves circulating questionnaires on a specific problem among group members, sharing the questionnaire results with them, and then continuing to recirculate and refine individual responses until a consensus regarding the problem is reached.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary Expected value (EV) is the measurement of the anticipated value of some event, determined by multiplying the income an event would produce by its probability of producing that income (EV = I × P).

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary Nominal group technique is a group decision-making process in which every group member is assured of equal participation in making the group decision. After each member writes down individual ideas and presents them orally to the group, the entire group discusses all the ideas and then votes for the best idea in a secret ballot.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary Nonprogrammed decisions are typically one-shot decisions that are usually less structured than programmed decisions.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary Probability theory is a decision-making tool used in risk situations—situations in which the decision maker is not completely sure of the outcome of an implemented alternative.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary Programmed decisions are decisions that are routine and repetitive and that typically require specific handling methods.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary Relevant alternatives are alternatives that are considered feasible for solving an existing problem and for implementation.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary The risk condition is the decision-making situation in which the decision maker has only enough information to estimate how probable the outcome of implemented alternatives will be.

© Prentice Hall, 2002 RETURN to Chapter termsEXIT Glossary The scope of the decision is the proportion of the total management system that a particular decision will affect. The broader the scope of a decision, the higher the level of the manager responsible for making that decision.