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9. Managerial Decision Making.

��� Types of Decisions and Problems.
��� Decision is a choice made from available alternatives.
��� Decision making is the process of identifying problems and opportunities and then resolving them.
��� Programmed and Nonprogrammed Decisions
- Programmed decision is a decision made in response to a situation that has occurred often enough to enable decision rules to be developed and applied in the future.
- Nonprogrammed decision is a decision made in response to a situation that is unique, is poorly defined and largely unstructured, and has important consequences for the organization.

��� Certainty, Risk, Uncertainty, and Ambiguity.
- one primary difference between programmed and nonprogrammed decisions relates to the degree of certainty or uncertainty that managers deal with in making the decision.
- Certainty is all information the decision maker needs is fully available.
- Risk means that a decision has clear-cut goals and that good i���(������)