Decision Making and Problem Solving in Business

Decision making and
problem solving

Contents
MAIN BODY..............................................................................................................................................3
Question 1...............................................................................................................................................3
Question 2...............................................................................................................................................4
Question 3...............................................................................................................................................5
Question 4...............................................................................................................................................6
Question 5...............................................................................................................................................7
Question 6...............................................................................................................................................8
References...................................................................................................................................................9

MAIN BODY
Question 1
Hierarchy of the information- based business decision makers:
The Business Information System improves the decision-making process and facilitates the
method of supplying the information needed and thus helps to take appropriate decisions quickly
(Cui, Chan, Zhou and Lim, 2019). By help of this system, it becomes easier for companies to
take suitable decisions in less time and more effective manner. Each decision making system
contains some specific tiers and each one is organized in a systematic manner. This hierarchy of
decision making contains following tier which are as follows:
Top tier (visionaries)-
 Each judgment is driven by market analysis.
 Firms develop new methods and are creative in their variety of methodologies.
 Enterprise has wide access to research evidence and results.
Middle tier (Standardized decision makers)-
 Many decisions are focused on market analysis.
 Companies use tried-and proven techniques, with the exception of those that may be
acceptable.
 Small company has wide data and results.
Base tier (intuitive decision makers)-
 Many judgments are based on personal experience or instinct.
 Decisions supported by minimal observational analysis.
On the basis of above three tiers of decision making, it can be stated that top tier seems better for
success. The rationale behind this is that under this stage, decisions are considered in accordance