1 / 12

Handling Uncertainty in Decision Making

By:Rodrick Carpenter II From: Jacksonville, Florida USA. Handling Uncertainty in Decision Making. Definition:. A decision-making environment in which several outcomes or states of nature can occur. Probabilities of these outcomes, however, are not known. .

owen
Télécharger la présentation

Handling Uncertainty in Decision Making

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. By:Rodrick Carpenter II From: Jacksonville, Florida USA Handling Uncertainty in Decision Making

  2. Definition: A decision-making environment in which several outcomes or states of nature can occur. Probabilities of these outcomes, however, are not known.

  3. Uncertainty in United States Of America • Some States in The U.S. currently have some uncertainties in the biophysical area and face challenges in balancing rural industry and urban development. • Drought is one of the main Risk faced by: • Farmers • Ranchers • Villages • Cities • Cattle & Other live stock.

  4. Barriers To Drought Risk Management • Many farmers and ranchers suffer from drought due to lack of awareness. • Some Plantation farmers only remember the first, worst & recent droughts during their time. • Recurrence of drought can lead to change in response pattern.

  5. Drought Chart In the U.S.

  6. Handling Uncertainty in decision making in The U.S. • Each business transaction or decision that is being made affects the government along with employment. • Currently economic growth is being delayed by uncertainty of: • Future Tax Rates. • Government Purchases. • Future Retiree Benefits & other factors that detour the U.S. From achieving their long term goal.

  7. Discovering Uncertainty in Corporations • Many major companies like JP Morgan, Eli Lilly & Ford motor company have uncertainties everyday about their Sales, Revenue & Liabilities. • Most companies take Risk everyday to keep their business alive such as: • letting go Good employees so that the owner can make more money. • Not Providing Interns to students.

  8. Uncertainty in Government Expenditures • Cutting government expenditures can be very risky for Some companies & Workers. why? • It could cut into the markets that they sell into. • Lost of Sales. • Drop In Revenue. • could Affect health care reform. • Higher Unemployment Rate

  9. Uncertainty In Employment Decisions • Many business owners, CEO´s , CFO’s, are uncertain when it comes to making hiring decisions. Why? • Some are full with Greed. • Many can't afford to Pay for more employees. • Not Fully Organized. • Stock Market crashed.

  10. To Conclude • Uncertainty can occur when it comes to making Big business deals that can affect a city, state or nation. • If you are mentally and Physically prepared you shall overcome.

  11. Thank You For Your Time And Patience! Have A Good Evening!

  12. “Work Cited” • Drought, Risk Management, and Policy. (n.d.). Google Books. Retrieved May 8, 2014, from http://books.google.at/books?id=BhdLwpNo5PEC&pg=PA209&lpg=PA209&dq=handling+uncertainty+in+decision-making+in+Florida+(risk+management)&source=bl&ots=cxhImU8JgW&sig=874n8eSxVBR2qVXxKZuMi_7sNAs&hl=en&sa=X&ei=Un1rU5q1KKWg0QWT4YDwAQ&ved=0CHoQ6AEwCA#v=onepage&q=handling%20uncertainty%20in%20decision-making%20in%20Florida%20(risk%20management)&f=false URL: http://opinion.financialpost.com/2013/06/04/u-s-economy-needs-clear-road-map/ Article Title: Business decision-making 'well nigh impossible' amid U.S. policy uncertainty: Dallas Fed chief Website Title: Financial Post Opinion Business decisionmaking well nigh impossible amid US policy uncertainty Dallas Fedchief Comments

More Related