Decision Making

Topics: Decision making, Hurricane Katrina, Risk Pages: 2 (411 words) Published: March 31, 2012
Tracey Lindsey
Week 1-Case Analysis
Managerial Decision Making
January 8, 2012

1. Define the decision problem.
The decision problem is not having a location for the user’s conference due to Hurricane Katrina.
2. As part of defining the decision problem, the following questions should be addressed: oWhat is the general nature of the problem?
The general nature of the problem is not having a location due to Katrina and having to make last minute adjustments on whether to continue with the conference but finding a new location, with the risk of losing users and customers because of higher costs. oWhat event triggered the situation?

The event that triggered the situation was Hurricane Katrina. oAre we imposing any constraints on the situation?
Many constraints are imposed on the situation.
oWhat are the underlying elements of the problem?
The underlying elements include: keeping the original date and moving to a different city, cost increases due to last minute reservations and whether or not the attendees and speakers will still be able to attend.

oAre there dependencies on other decisions?
Yes there are dependencies on other decisions. With any situation, something can always happen and have a negative effect on the outcome.

Tracey Lindsey
Week 1-Case Analysis
Managerial Decision Making
January 8, 2012

1. Define the decision problem.
The decision problem is not having a location for the user’s conference due to Hurricane Katrina.
2. As part of defining the decision problem, the following questions should be addressed: oWhat is the general nature of the problem?
The general nature of the problem is not having a location due to Katrina and having to make last minute adjustments on whether to continue with the conference but finding a new location, with the risk of losing users and customers because of higher costs. oWhat event triggered the situation?

The event that triggered the situation was Hurricane...
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