What Is the Integrative Decision Model

Question

Examlex · Accepted Answer

The Answer is The integrative decision model (IDM)provides a framework to structure and organize the decision-making process. IDM integrates consideration of both quantitative factors, such as dollars of revenue and costs, and qualitative factors that cannot be quantified in dollars. Qualitative factors might include product quality or customer satisfaction. An IDM spreadsheet template includes both quantitative (financial)and qualitative (non-financial)analysis.
As the business environment becomes more complex and diverse, more and more factors must be considered when making decisions. For example, as environmental considerations, diversity, and corporate social responsibility are increasingly considered when evaluating a firm's performance, enterprises may include these factors in the decision process. Some of these considerations cannot be quantified in dollars, however. Though difficult to place a dollar amount on the factor, there are times when the factor can be overriding, such as for product safety.
The IDM serves to integrate both qualitative and quantitative factors into the decision. This process of integrating financial and non-financial factors into the decision process can improve the quality of the decision.

What Is the Integrative Decision Model

Essay

Correct Answer:
Verified

What Is the Integrative Decision Model

Essay

Correct Answer:VerifiedShow Answer

Correct Answer:
Verified