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    S-MATH311LA BSM31 1st Sem (2021-2022) - 1st Sem AY2021-2022

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    Von Andrei Medina
    This document provides an overview of an introduction to management science course covering problem solving, decision making, and quantitative analysis. It defines problem solving as identifying a difference between the current and desired state and taking action to resolve it through a seven step process. Decision making is described as the first five steps, ending with choosing an alternative. Problems can be single-criterion, evaluating based on one factor, or multi-criteria, using multiple factors. Quantitative analysis is recommended for complex, important, new, or repetitive problems to aid the decision maker.

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    S-MATH311LA BSM31 1st Sem (2021-2022) - 1st Sem AY2021-2022

    Uploaded by

    Von Andrei Medina
    76 views3 pages
    This document provides an overview of an introduction to management science course covering problem solving, decision making, and quantitative analysis. It defines problem solving as identifying a difference between the current and desired state and taking action to resolve it through a seven step process. Decision making is described as the first five steps, ending with choosing an alternative. Problems can be single-criterion, evaluating based on one factor, or multi-criteria, using multiple factors. Quantitative analysis is recommended for complex, important, new, or repetitive problems to aid the decision maker.

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    S-MATH311LA BSM31 1st Sem ( 2021-2022 ) - 1st Sem AY2021-2022 -

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    This document provides an overview of an introduction to management science course covering problem solving, decision making, and quantitative analysis. It defines problem solving as identifying a difference between the current and desired state and taking action to resolve it through a seven step process. Decision making is described as the first five steps, ending with choosing an alternative. Problems can be single-criterion, evaluating based on one factor, or multi-criteria, using multiple factors. Quantitative analysis is recommended for complex, important, new, or repetitive problems to aid the decision maker.

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    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    76 views3 pages

    S-MATH311LA BSM31 1st Sem (2021-2022) - 1st Sem AY2021-2022

    Uploaded by

    Von Andrei Medina
    This document provides an overview of an introduction to management science course covering problem solving, decision making, and quantitative analysis. It defines problem solving as identifying a difference between the current and desired state and taking action to resolve it through a seven step process. Decision making is described as the first five steps, ending with choosing an alternative. Problems can be single-criterion, evaluating based on one factor, or multi-criteria, using multiple factors. Quantitative analysis is recommended for complex, important, new, or repetitive problems to aid the decision maker.

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    S-MATH311LA BSM31 1st Sem ( 2021-2022 ) - 1st Sem AY2021-202... https://dlsud.edu20.org/student_lesson/show/2795121?lesson_id=130...

    S-MATH311LA BSM31 1st Sem ( 2021-2022 ) - 1st Sem AY2021-2022

    Introduction to Management Science

    Problem Solving and Decision Making


    Immersive Reader

    Problem Solving and Decision Making


    Problem solving can be defined as the process of identifying a
    difference between the actual and the desired state of affairs and
    then taking action to resolve the difference. For problems
    important enough to justify the time and effort of careful analysis,
    the problem-solving process involves the following seven steps:
    1. Identify and define the problem
    2. Determine the set of alternative solutions
    3. Determine the criterion or criteria that will be used to evaluate
    the alternatives.
    4. Evaluate the alternatives
    5. Choose an alternative
    6. Implement the selected alternative
    7. Evaluate the results to determine whether a satisfactory
    solution has been obtain.

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    S-MATH311LA BSM31 1st Sem ( 2021-2022 ) - 1st Sem AY2021-202... https://dlsud.edu20.org/student_lesson/show/2795121?lesson_id=130...

    Decision making is the term generally associated with the first


    five steps of the problem-solving process. Thus, the first step of
    decision making is to identify and define the problem. Decision
    making ends with the choosing of an alternative, which is the act
    of making the decision.
    Single-criterion decision problems are problems in which the
    objective is to find the best solution with respect to one criterion.
    Multicriteria decision problems are problems in which the
    objective is to find the best solution with respect to more than one
    criterion.

    Quantitative Analysis and Decision Making


    Here are some reasons for a Quantitative Analysis Approach to
    Decision Making
    • The problem is complex. For example, a decision maker
    cannot develop a good solution without the aid of quantitative
    method and analysis.
    • The problem is very important. For example, a great deal of
    money is involved and a wrong decision could result to a

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    S-MATH311LA BSM31 1st Sem ( 2021-2022 ) - 1st Sem AY2021-202... https://dlsud.edu20.org/student_lesson/show/2795121?lesson_id=130...

    great loss.
    • The problem is new. For example, a decision maker have no
    previous experience to draw solution to the problem.
    • The problem is repetitive. For example, a decision maker can
    save time and effort by relying on quantitative procedures to
    make routine decision recommendations.
    Previous Continue

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