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Author: Ernest Forman Publisher: World Scientific ISBN: 9814493945 Category : Business & Economics Languages : en Pages : 422
Book Description
Decision-making is a process of choosing from possible courses of action in order to attain goals and objectives. Nobel laureate Herbert Simon wrote that the whole process of managerial decision-making is synonymous with the practice of management. Decision-making is at the core of all managerial functions. Planning, for example, involves the following decisions: What should be done? When? How? Where? By whom? Other managerial functions, such as organizing, implementing, and controlling, rely heavily on decision-making.Decision by Objectives is an invaluable book about the art and science of decision-making. It presents a very practical approach to decision-making that has a sound theoretical foundation, known as the analytic hierarchy process. Intended for both the student and the professional, the book includes approaches to prioritizing, evaluating alternative courses of action, forecasting, and allocating resources. By focusing on objectives rather than alternatives alone, it shows the reader how to synthesize information from multiple sources, analyses, and perspectives. The methods presented have been gaining popularity throughout the world.
Author: Ernest Forman Publisher: World Scientific ISBN: 9814493945 Category : Business & Economics Languages : en Pages : 422
Book Description
Decision-making is a process of choosing from possible courses of action in order to attain goals and objectives. Nobel laureate Herbert Simon wrote that the whole process of managerial decision-making is synonymous with the practice of management. Decision-making is at the core of all managerial functions. Planning, for example, involves the following decisions: What should be done? When? How? Where? By whom? Other managerial functions, such as organizing, implementing, and controlling, rely heavily on decision-making.Decision by Objectives is an invaluable book about the art and science of decision-making. It presents a very practical approach to decision-making that has a sound theoretical foundation, known as the analytic hierarchy process. Intended for both the student and the professional, the book includes approaches to prioritizing, evaluating alternative courses of action, forecasting, and allocating resources. By focusing on objectives rather than alternatives alone, it shows the reader how to synthesize information from multiple sources, analyses, and perspectives. The methods presented have been gaining popularity throughout the world.
Author: Ralph L. Keeney Publisher: Cambridge University Press ISBN: 9780521438834 Category : Business & Economics Languages : en Pages : 596
Book Description
This book describes how a confused decision maker, who wishes to make a reasonable and responsible choice among alternatives, can systematically probe their thoughts and feelings in order to make the critically important trade-offs between incommensurable objectives.
Author: C.-L. Hwang Publisher: Springer Science & Business Media ISBN: 3642455115 Category : Business & Economics Languages : en Pages : 366
Book Description
Decision making is the process of selecting a possible course of action from all the available alternatives. In almost all such problems the multiplicity of criteria for judging the alternatives is pervasive. That is, for many such problems, the decision maker (OM) wants to attain more than one objective or goal in selecting the course of action while satisfying the constraints dictated by environment, processes, and resources. Another characteristic of these problems is that the objectives are apparently non commensurable. Mathematically, these problems can be represented as: (1. 1 ) subject to: gi(~) ~ 0, ,', . . . ,. ! where ~ is an n dimensional decision variable vector. The problem consists of n decision variables, m constraints and k objectives. Any or all of the functions may be nonlinear. In literature this problem is often referred to as a vector maximum problem (VMP). Traditionally there are two approaches for solving the VMP. One of them is to optimize one of the objectives while appending the other objectives to a constraint set so that the optimal solution would satisfy these objectives at least up to a predetermined level. The problem is given as: Max f. ~) 1 (1. 2) subject to: where at is any acceptable predetermined level for objective t. The other approach is to optimize a super-objective function created by multiplying each 2 objective function with a suitable weight and then by adding them together.
Author: Ernest H. Forman Publisher: World Scientific ISBN: 9789810241438 Category : Self-Help Languages : en Pages : 426
Book Description
Intended for both the student and the professional, this work addresses the art and science of decision-making. It presents a very practical approach to decision-making that has a sound theoretical foundation, known as the analytic hierarchy process.
Author: Diederik M. Zhou Publisher: Springer Nature ISBN: 3031015762 Category : Computers Languages : en Pages : 111
Book Description
Many real-world decision problems have multiple objectives. For example, when choosing a medical treatment plan, we want to maximize the efficacy of the treatment, but also minimize the side effects. These objectives typically conflict, e.g., we can often increase the efficacy of the treatment, but at the cost of more severe side effects. In this book, we outline how to deal with multiple objectives in decision-theoretic planning and reinforcement learning algorithms. To illustrate this, we employ the popular problem classes of multi-objective Markov decision processes (MOMDPs) and multi-objective coordination graphs (MO-CoGs). First, we discuss different use cases for multi-objective decision making, and why they often necessitate explicitly multi-objective algorithms. We advocate a utility-based approach to multi-objective decision making, i.e., that what constitutes an optimal solution to a multi-objective decision problem should be derived from the available information about user utility. We show how different assumptions about user utility and what types of policies are allowed lead to different solution concepts, which we outline in a taxonomy of multi-objective decision problems. Second, we show how to create new methods for multi-objective decision making using existing single-objective methods as a basis. Focusing on planning, we describe two ways to creating multi-objective algorithms: in the inner loop approach, the inner workings of a single-objective method are adapted to work with multi-objective solution concepts; in the outer loop approach, a wrapper is created around a single-objective method that solves the multi-objective problem as a series of single-objective problems. After discussing the creation of such methods for the planning setting, we discuss how these approaches apply to the learning setting. Next, we discuss three promising application domains for multi-objective decision making algorithms: energy, health, and infrastructure and transportation. Finally, we conclude by outlining important open problems and promising future directions.
Author: Beverly Hill Publisher: ISBN: 9781729353899 Category : Business & Economics Languages : en Pages : 50
Book Description
Decision is a single mental action that has the power to change any personal problem. The certain decisions have the potential to provide you an immense success. All the people who learned and mastered decision making are very successful in everything they do. They differ from others because they are capable of changing the circumstances around them within a very short amount of time, just because they make the right decision at the right time.Decision making is not just important in your business, but also in every other area of your life. This force affects your whole life, your relationships, family, social life and also physical and mental health. Like any other mental ability, you can also develop your ability of decision making. You have to do it by yourself, through unwavering discipline and proper understanding of the power of this force.The best way is to learn to listen to your gut feelings, your inner voice that knowing place inside you that is called your intuition. In many cases, our parents taught us to rationalize, to think and analyze all the facts then crunch the numbers and make a decision. Sometimes that works but if you talk to highly successful people, they all rely to some degree on their intuition. They seem to know when it is time to go by the book or go with the flow. Flow has more fluidity and has more flexibility to move, change and morph into the best of the best. Our natural innate energy exchanges blend with other energies to become the best idea, the best solution or the best something. When rules and limitations come into play, the flow is restricted. Limitations and excuses try to sneak their way into the decision.By allowing your intuition to blossom and interact with the flow, the flow increases and widens, providing even more opportunities. The natural rhythm and order of things becomes more synchronous and the decision seems to emerge rather than having to be wrestled with. New inspiration is birthed and more and more energy pours into the flow. You seem to know exactly what to do and when to do it.Decisions become more of an art than an agony. As you listen to that inner you, you are automatically steered in the right direction. It's like you've got this eagle, high up in the sky, telling you what is ahead so you can move in the right direction and be ready when it get here.
Author: David Charlesworth Publisher: Business Expert Press ISBN: 1606494899 Category : Business & Economics Languages : en Pages : 144
Book Description
Everybody has to make decisions—they are unavoidable. Yet we receive little or no education or training on how to make decisions. Business decisions can be dif_ cult: which people to hire, which product lines or facilities to expand and which to sell or shut down, which bid or proposal to accept, which process to implement, how much R&D to invest in, which environmental projects should receive the highest priority, etc. This book gives you all the tools you need to... • clarify and reach alignment on goals and objectives and understand trade-offs in reaching those goals, • develop and examine alternatives, • systematically analyze the effects of risk and uncertainty, and • maximize the chances of achieving your goals and objectives. Success (getting what you want) depends on luck and good decision making. You can’t control your luck, but you can maximize your odds by making the best possible decisions, and this book gets you there. Broadly speaking, this book organizes and presents otherwise formal decision-making tools in an intuitively understandable fashion. The presentation is informal, but the concepts and tools are research-based and formally accepted.
Author: Ernest Forman
Author: Ernest Forman
Author: Ralph L. Keeney
Author: C.-L. Hwang
Author: George S. Odiorne
Author: Ernest H. Forman
Author: G. S. Odiorne
Author: Diederik M. Zhou
Author: Beverly Hill
Author: David Charlesworth
Author: J. Wilhelm