Decision Making
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: o What 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. o What event triggered the situation?
The event that triggered the situation was Hurricane Katrina. o Are we imposing any constraints on the situation?
Many constraints are imposed on the situation. o What 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. o Are 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: o What 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. o What event triggered the situation?
The event that triggered the situation was
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: o What 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. o What event triggered the situation?
The event that triggered the situation was Hurricane Katrina. o Are we imposing any constraints on the situation?
Many constraints are imposed on the situation. o What 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. o Are 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: o What 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. o What event triggered the situation?
The event that triggered the situation was