1.      What is the impact of 'poor'

1.      What is the impact of 'poor' or 'incomplete' decision making? What measures of effectiveness are used in your organization?



honeyd


13-09-20 | 13:06:29

Inadequate or incomplete decision making can result in losses. For example, poor forecasting decisions can result in excess production, thus leading to high holding costs. On the flip side, it can result in low production, thus leading to loss of revenue and market share. A poor decision can also lead to continuous spending on something with promising returns. For example, since one may have spent too much on creating software that is not getting customers, he may continue spending on it without knowing that the concept is outdated, and is likely to result in extra expenses without gain. In our organization, we model the decision, which helps us to avoid chaos, assist in issues understanding, and help us to avoid overlooking some issues while making the decision.

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