COMMERCE 2KA3 Chapter Notes - Chapter 12: Balanced Scorecard, Visual Analytics, Data Mining

• School: McMaster University
• Department: Commerce
• Course: COMMERCE 2KA3
• Professor: A L I R M O N T A Z E M I

Document Summary

There are a variety of types of decisions; they can be structured, semistructured, and unstructured. Unstructured decisions: are those in which the decisions maker must provide judgement, evaluation, and unsought to solve the problem. These decisions are very important, and are nonroutine, and there is no well-known or agreed-on procedure for making them. These decisions are common in senior management positions. Structured decisions: are repetitive and routine, they involve a definite procedure for handling them so that they do not have to be treated each time as if they were new. Common in operational management and among individual employees and teams. Semistructured: where only party of the problem has a clear-cut answer provided by an accepted procedure. In general, structured decisions are more prevalent in lower organizational levels, while unstructured problems are more common at higher levels of the firm. Managers and decision making in the real world.