Quality Decision Management - The Heart of Effective Futures-Oriented Management
The effectiveness of management of any type of organization depends largely on the effectiveness of the decisions made at the various levels of the organization, their timeliness, resourcefulness and efficiency. New developments in information technology
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TOPICS IN SAFETY, RISK, RELIABILITY AND QUALITY Volume 14 Editor Adrian V. Gheorghe Old Dominion University, Norfolk, Virginia, U.S.A. Editorial Advisory Board P. Sander, Technical University of Eindhoven, The Netherlands D.C. Barrie, Lakehead University, Ontario, Canada R. Leitch, Royal Military College of Science (Cranfield), Shriverham, U.K. Aims and Scope. Fundamental questions which are being asked these days of all products, processes and services with ever increasing frequency are: What is the risk? How safe is it? How reliable is it? How good is the quality? How much does it cost? This is particularly true as the government, industry, public, customers and society become increasingly informed and articulate. In practice none of the three topics can be considered in isolation as they all interact and interrelate in very complex and subtle ways and require a range of disciplines for their description and application; they encompass the social, engineering and physical sciences and quantitative disciplines including mathematics, probability theory and statistics. The major objective of the series is to provide series of authoritative texts suitable for academic taught courses, reference purposes, postgraduate and other research and practitioners generally working or strongly associated with areas such as: Safety Assessment and Management Emergency Planning Risk Management Reliability Analysis and Assessment Vulnerability Assessment and Management Quality Assurance and Management Special emphasis is placed on texts with regard to readability, relevance, clarity, applicability, rigour and generally sound quantitative content.
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Quality Decision Management - The Heart of Effective Futures-Oriented Management A Primer for Effective Decision-Based Management Ernst G. Frankel Massachusetts Institute of Technology, Cambridge, MA, USA
Ernst G. Frankel Massachusetts Institute of Technology Cambridge, MA USA
ISBN 978-1-4020-8995-4
e-ISBN 978-1-4020-8996-1
Library of Congress Control Number: 2008932629 © 2008 Springer Science + Business Media B.V. No part of this work may be reproduced, stored in a retrieval system, or transmitted in any form or by any means, electronic, mechanical, photocopying, microfilming, recording or otherwise, without written permission from the Publisher, with the exception of any material supplied specifically for the purpose of being entered and executed on a computer system, for exclusive use by the purchaser of the work. Printed on acid-free paper 9 8 7 6 5 4 3 2 1 springer.com
Preamble – Decisions, the Lifeblood of Management and Progress
Management can be defined as the process of effective decision making for a purpose so as to achieve an organization’s objectives and goals. The purpose may be to effectively deliver services, manufacture goods or grow produce. It may also include the rendering of organizational functions, delivery of opportunities, maintenance of relations or governing small or large gr
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