All entries for Thursday 07 March 2013

March 07, 2013

Tackling Uncertainties

Robust decisions are generally decisions which are able to tackle uncertainties an organization might be faced with. These uncertainties might be market trends etc. It all depends from company to company.

The main aim for management is to make decisions in light of any uncertainties that may or may not take place in the companies near or distant future. A robust decisions is exactly as what it is named as… “ROBUST” it should be able to tackle these problems so that management is not faced with any new challenges during the course of a products life cycle.

In our decision my tam members and I were able to make a robust decision based on pure facts, figures and logic.

We choose Lymington as it is the least risky if the targets not achieved and even considering all the probabilities using the decision tree we came to the same conclusion.

It is vital that in order to arrive at the best possible decision that the company be assessed thoroughly with its strengths and weaknesses.



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