ASSIGNMENT

• Find some structured ways of dealing with complex managerial decision problems.
• Explain simple decision models and management science ideas that provide powerful and (often surprising) qualitative insight about large spectrum of managerial problems.
• Demonstrate the tools for deciding when and which decision models to use for specific problems.
• Build an understanding of the kind of problems that is tackled using spreadsheet modeling and decision analysis.

3.2 Action Required:

• Watch the short video in the following link:

 

3.3 Test your Knowledge (Question):

• Explain the Modelers’ Roles in the Problem-Solving Process
• List the Six Stages of Problem-Solving Process.