strategic decision making essay

Strategic Decision-Making

“Rational decision-making is an impossible ideal in strategy formulation and implementation due to incomplete information and organisational politics. ” Strategy is formulated and implemented by organisations as a means of gaining competitive advantage and achieving organisational success. Frequent fast, widely supported, and high quality strategic decisions are the cornerstone of effective strategy (Eisenhardt, 1999 in Clegg et. Al, 2012). In today's world of borderless business, ever-evolving technology and rapid change, can these decisions be made rationally?

Currently there are three main decision-making paradigms in the literature – rational decision-making, political decision-making and the garbage can model. Each paradigm frames the decision-making process differently and each will be discussed in turn in this essay. It will then be concluded that while rational decision-making is possible, it is only boundedly so due to incomplete information confounded by the limitations of human cognition, particularly in the fast-paced business world of today.

Furthermore, while people can be individually rational, collectively this is not the case (Eisenhardt ; Zbaracki, 1992) - as organisations are political systems, politics and power are often central to decision-making in the formulation and implementation of strategy. Rational decision-making Model According to the rational decision making model, clear goals and objectives are first identified and listed in order of importance. All the alternative courses of action associated with each objective are then identified and the consequences of each action are established.

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Consequences are assessed against the values and objectives pursued, with the course of action that best maximises these values being the one that is chosen. This logical step-by-step approach suggests that the outcome will be maximised. It also assumes the decision maker has complete knowledge of not only all possible alternatives, but also their consequences. For strategists who subscribe to this model of decision making, the organisation is seen as a rational bureaucracy where strategic planning is conducted by top management and organisational structure follows.

This prescriptive view of decision-making has scientific principles at its core as decision makers are thought to be accurate and objective. Research, however, has shown that the decision-making process used by managers is not as straightforward or linear in nature. In fact, the assumptions underpinning the theory of omniscient rationality, while 'strikingly simple and beautiful' (Simon, 1978), are fundamentally flawed. Although such an approach to strategy formulation may appear ideal in theory, it cannot be practised except for with relatively simple problems (Linblom, 1959).

Limits of the cognitive capacity of humans, and on available information set definite limits on a manager's ability to be fully rational. In addition to this, other members of the organisation may disagree with the decision makers choice leading to power plays and politics. Whilst strategic decisions then, fall short of omniscience, they are not necessarily irrational. Rather, they are, and can only ever be, a bounded rationality. Cognitive biases of managers limit the applicability of the rational decision-making approach (Santos & Garcia, 2006).

The organisational situation is framed by the decision makers who perceive an approximate model of the circumstances, choosing from a limited list of subjective alternatives. Some choices are given weight and others are relegated to the background, thus large segments of reality are out of focus (Feehan, 2013). Simon (1956) recognising the limits of comprehensive rationality, posited the concept of 'satisficing', that members will choose the first alternative that is deemed to adequately meet the organisation's objectives rather than taking the time to survey all possible alternatives and finding the optimal choice.

This satisficing alternative will meet the minimal satisfactory requirements. Linblom's 'Muddling Through' theory (1959) was one of the first to recognise the role of politics in strategic decision-making. Linblom refers to the comprehensive rational model mentioned above, as a 'root' approach to decision-making where the process begins with the fundamentals, always starting from the ground up. This means-end analysis requires that values are clarified in advance of examining alternatives. He posits a 'branch method' of incremental comparisons as a more suitable method for complex problems.

Here, the decision-making process begins in the current situation, building out with incremental changes. Lindblom argues that the organisation and individuals may hold conflicting values which only become clear after the fact. A good outcome is therefore, not the optimal one but one that is agreed upon by all players. These theories highlight both the limits of rationality and the importance of context in strategic decision-making. Unlike many other decisions, strategic decisions are made in an organisational context where the reaction of the players affects the outcome.

This view of organisations not as rational optimisers but 'satisficers' resonates with the author's experiences. Having owned my own business I understand due to time constraints, working memory limits and finite funding levels, it is not possible to make decisions in a perfectly rational fashion. There will always be alternatives you (the organisation) had not considered, preferences you have that may be conflicting, and choices that cannot be made due to disagreements among stakeholders.

This is not to say that the strategic decisions cannot be rational – they can but only boundedly so. It is important, in my view, to approach these significant and complex decisions in a systematic manner when possible. However in a dynamic world, where business is borderless and technology is advancing at an ever increasing rate, I would question the utility of this approach. Context is key. Political decision-making model The political model of decision-making presents a compelling case against the possibility of perfect rationality in strategy formation and implementation.

In fact, according to Clegg (2012, p. 267) the biggest enemy of rationality is the power and politics that are inscribed in every organisational decision. The division of an organisation into separate departments, encourages political activity between them as they compete for scarce resources (Pettigrew, 1973). Coalitions are formed around a perceived affinity of interests, with the ultimate aim being to accrue enough power to influence the decision-making process. It is out of this struggle for power that decisions emerge.

Strategic decisions are particularly likely to stimulate political actions because they are complex, significant, and subject to uncertainty. There may be much to gain/lose for each of the players from both a material and reputational point of view (Child, Elbanna ; Rodrigues, 2010). Take for example, an organisation such as a hospital. It is pluralistic in nature, often experiencing conflict between departments, staff subcultures and rifts between administrative staff and departments.

Imagine as part of a cost containment strategy, it is decided after rational analysis, that the optimal alternative is to reduce wage costs by 20%. The highly paid consultants and lower paid floor staff will be pitted against each other, each protecting their own self-interests. The cost cutting strategy may have to be adapted in order to appease the players. As this example conveys, it is out of differences in self-interests that conflict rises (Eisenhardt ; Zbaracki, 1992). Research has consistently found organisational decision-making to be political in nature.

A study of nine international corporations found that they were political systems comprised of a myriad of coalitions and groups (Quinn,1980 in Child et. al 2010). Pettigrew (1972) observed a scenario where established computer analysts conflicted with a newer team of analysts over which IT system their company should invest in. A member of the established coalition of analysts acted as gatekeeper, using his role to control the flow of information to top management whilst communicating negatively about his opponents ideas at the same time.

This resulted in management deciding to take his advice. Another often cited example of the political decision-making model the Cuban Missile Crisis (Clegg et al 2011; Child et al 2010). Garbage Can Model The garbage can model of decision making offers an alternative insight into strategic decision-making in organisations. Here, the organisation is described as a loose collection of already-made solutions, waiting for new decision opportunities to be applied. Contrary to the assumptions of the rational model, decision making in these organised anarchies is not an orderly, linear process.

The ambiguity is due to the radical instability of three premises – preferences, technology (know-how, techniques ; equipment) and participation. Decision-making occurs when the right problem arises and the right people are receptive to it's solution. These variables are coupled temporally, by chance, rather than consequentially by rational calculation (Rainey, Ronquillo & Avellaneda, 2010). The garbage can model differs from the rational and political models as it conveys the role of chance in the decision-making process.

Decisions are not arrived at through boundedly rational analysis, nor are they negotiated by the interactions of coalitions. Instead, they are the random result of the convergence of problems and solutions at a particular point in time. This is not to say that this model is intended to replace rational decision-making, rather it's purpose is to supplement it (Rainey et. al 2010). Not all decision making situations are organised chaos, neither are they all rational. Many organisations in the public sector serve as examples of the garbage can model of decision-making.

Many policy-making decisions for example, are imprecise and vague in nature with no defined goals attached. Participants in the public sector decision making process are prone to change – board members, consultants and even governmental parties are likely to change during the course of the decision-making process. Rational decision-making then, is problematic for making the predictions about the future preferences and consequences when formulating strategy. The human cognitive system will simply not allow us to consider all possible alternative solutions to any given problem.

This assertion highlights the importance of brainstorming and group work in order to generate possible alternatives that we, ourselves, may not have thought of. Even taking this into account however, it is doubtful that an exhaustive list of all eventualities would be arrived at. Groupthink and politics are also likely to factor into the equation. Furthermore, even if rational decision-making were possible, it may not be even be the ideal. It does not allow for the input of emotional intelligence and ethical considerations which are often required in the decision-making process.

How then can the business of today ensure they are making adequate decisions when formulating and implementing strategy? Organisational learning has been posited as an alternative view to organisations as decision-makers. Organisations are seen as learning by encoding inferences from experiences which are then used to direct behaviour (Levitt ; March, 1988). Organisations adapt to changes in the environment, storing data in it's repository to be drawn on later.

• Clegg, S. , Carter, C. , Kornberger, M. amp; Schweitzer, J. (2011) Strategy: Theory & Practice. London : Sage.
• Child, J. Elbanna, S. & Rodrigues, S. . (2010). The Political Aspects of Strategic Decision Making. In: Nutt, P. C. & Wilson, D. C. Handbook of Decision Making. Sussex: Wiley. 105-138.
• Eisenhardt, K. M. & Zbaracki, M. J. (1992). Strategic Decision-making. Strategic Management Journal 13, pp. 17-37.
• Feehan, M. (2013) Organisation & Strategy Slides. IPA Moodle. Accessed on 21/01/2013.
• Levitt, B. & March, J. G. (1988). Organizational Learning Annual Review of Sociology. 14, pp. 319-340
• Linblom, C. E. (1959). 'The Science of Muddling Through. ' Public Administration Review 19 , 2. pp. 79-88.
• Pettigrew, A. M. (1973) The Politics of Organizational Decision Making. London: Tavistock
• Pettigrew, A. M. (1972) Information control as a power resource, Sociology, 6, 187–204.
• Santos, M.. V & Garcia, M. T. (2006) Managers’ opinions:reality or fiction. A narrative approach. Management Decision 44, 6. pp 752-770.

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Strategic Decision Making

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Rachel McGovern Wilmington University MGT 7750: Strategy and Decision Making Professor Snipes 31January

Introduction Strategic decision-making has become an indispensable part of the business. Decision- making is an essential part of the strategy. There are several considerations for the management in this process, which can lead to effectiveness. It is crucial to steer the strategic decision making with various viewpoints, as intending to make a strategic decision on the different business setting may vary. Strategic decision-making considerations are building collective intuition, stimulating quick conflict, discipline the decision timing, and defusing politics. Successful managers or executives eternally carry these elements in the decision-making process. Nevertheless, critical thinking analysis is necessary to embellish the influence of these aspects. Critical Thinking Analysis The management must build the collective intuition to make effective strategic decisions. It is possible through developing a team and conducting regular meetings. The exploration of opportunities and threats at the right time can help make a solid choice in the organization's best interest. Yet, when cruising multiple ideas and thoughts simultaneously, there can be some barriers in the forms of contradictions and varying perspectives. Every stakeholder can discern the information and share the knowledge with different perspectives. Critically, it is invariably hard to combine these perspectives to reach a final call. Spurring the quick conflict is another trait, as engaging diverse teams are a better path to have different alternatives[ CITATION Kat99 \l 1033 ]. The purpose is to improve the decision-making quality. Yet, the management has to depict quick conflict without dismantling working together in an organization. Sustaining the momentum of strategic choice is possible through effectively managing the time. Based on the

Subsequently, in the current business setting, the management can intensify its ability to push the organization's right choices. Information is one of the critical factors, and depending on it, change may occur. Instead of just adhering to these approaches and ideas, the strategic intent is to be resilient to consolidate new traits.

References Eisenhardt, K. M. (1999, April 15). Strategy as Strategic Decision Making . sloanreview.mit/article/strategy-as-strategic-decision-making/ Emeagwali, L. (2017 ). Corporate Governance and Strategic Decision Making. Books on Demand.

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Strategic Decision-Making

Organizations are usually guided by their visions and missions. The missions determine the long-term goals of organizations and how they intend to achieve them. Therefore, when implementing changes, managers usually have to ensure that they fit into their organizations’ missions. Usually, there are different types of decision-making. They include tactical, operational, and strategic decisions. Tactical decisions are those that involve specific tasks. Therefore, they determine how functions will be performed (Wanjau et al., 2019). On the other hand, operational decisions concern how the organization will be run daily. Strategic decisions concern long-term changes. Hence, when implementing changes, apart from considering the tactical and operational shifts that may result, it is also important to consider the company strategy. Strategic decision-making in change management ensures that the organization remains on track toward achieving its mission and vision.

Strategic decision-making aligns changes with long-term goals. The small changes that happen in organizations should always aim towards the organization’s long-term goal. Usually, strategic goals are goals that the organization aims to achieve in the end (Wanjau et al., 2019). Each of the operations and tactics used is part of the strategy for meeting the goals. When implementing changes, it is important to consider the resources that will be employed. Resources include factors like employees who offer labor, budgeting, time, and other tools. When formulating strategies, the various resources are planned for meeting different needs that the organization expects to have. When managing changes, it is important to ensure that the resources are adequate and that budgeting considers factors like how the competing resources will be used to achieve the change and how the resource usage will enable the company to meet its goals (Wanjau et al., 2019). For instance, in a hospital, if the organization’s mission is to make itself attractive to the community through effective nursing, strategic decision-making to cause any change should ensure enough professionals achieve their roles and the change. The change should also help the organization use the professionals to become competitive in its field. Otherwise, the change should not be implemented. Usually, budgeting is done for given periods. Hence, when budgeting is done, strategic decision-making should be considered so that resources can be available (Mulwa, 2015). When strategic decision-making involves changes, it reduces the chances of losses and ensures that resources are properly used to meet companies’ goals.

Strategic decisions, especially during economic turbulence, are important for ensuring that companies retain liquidity. Usually, it is essential to make tradeoffs, especially when resources are scarce and operations still must be completed (Mulwa, 2015). The tactical decisions must consider the long-term survival of the organization and its ability to perform its functions almost as usual. Managers must ensure that companies still deliver their responsibility to all stakeholders despite facing hard times. For instance, during the COVID-19 pandemic, companies changed their operations to remain afloat. They had to find ways of delivering their responsibilities to customers while also surviving when there were barely any economic activities happening and companies were closing. Therefore, they had to consider the various tradeoffs to determine the ones that would be made. For instance, some companies had to reduce their human resource sizes to remain liquid. Liquidity in such cases is important because having money to run the basic functions of the organization may prevent companies from collapsing.

Strategic decision-making also reduces the unknown variables that may affect companies and reduces the gap between emergent and deliberate strategy. Usually, companies have to change with time. However, they must remain on course to meet long-term goals. While deliberate strategies are those that companies set out to achieve when they start, as variables take effect and companies have to adapt, they usually have to change their strategies (Mulwa, 2015). For instance, if a company has a strategy to ensure that it improves its profits by diversifying, it can only meet the objective if the market forces do not change a lot. However, external variables like technology changes and policies may force organizations to change their operations. For instance, the popularity of artificial intelligence has led to some companies having to change their operations. Despite the changes to include artificial intelligence or any other assistive technologies, managers have had to ensure that companies remain productive (Mulwa, 2015). Therefore, despite the shifts, they may have to replan and develop measures to operate and achieve their goals. Disasters may also strike and disrupt the operations of companies. In such cases, managers must usually align their organizations with external changes while considering their initial strategies. Strategic decision-making ensures that companies do not stray from their initial goal and remain true to their goals during turbulence or changes.

Strategic decision-making enables organizational learning in change management. Strategic decision-making requires that managers incorporate data in their decisions. Therefore, they have to collect and use evidence to guide their decisions. Organizations collect data from various departments to determine progress (Sumar & Karlsson, 2022). For instance, they collect data from the human resource department to know people’s job satisfaction. The data also helps determine the turnover rates and other employee-related issues that may occur. Managers also usually access data from the finance and other departments that enable the company’s operations. In production, managers must have data concerning production rates and the savings and wastage involved. Strategic changes aim to improve companies’ abilities to achieve their long-term goals. While the data can help determine whether or not changes are needed, it can also help determine the progress of changes to know whether decisions are high quality (Sumar & Karlsson, 2022). Such data can help in future decisions to ensure that mistakes are avoided. Also, before deciding, administrators must analyze past and present data to know the trends. Understanding trends will not only affect current decisions but also influence future decisions.

Strategic decision-making also improves the responses of organizations to changes. Prevention is always better than reactions. Therefore, it is necessary to ensure that decisions consider what may happen and implement measures to prevent adverse events or mitigate the effects of disasters if they happen (Sumar & Karlsson, 2022). for instance, when budgeting, strategic decision-making may help organizations prepare for possible issues that may arise. Preparing early ensures that even when events are preventable, their effects do not weaken organizations. For instance, companies that invest in technologies should consider how they may operate if disasters happen and they lose their electronic data. They should also implement effective security measures to prevent data loss or hacking (Johnson et al., 2020). Failing to consider possible issues may leave organizations vulnerable to disasters. Strategic decisions should also include how companies can recover from disasters if they happen. For instance, companies should have backup systems that they may switch to when disasters happen or lose their main systems. Such proactive preparations should be included in decisions to enable the efficiency and survival of organizations.

Strategic decision-making also enables increased efficiency. Improved efficiency happens when organizations are not disrupted, or the disruption is reduced during change implementation (Sumar & Karlsson, 2022). Usually, changes cause resources to be shifted. Therefore, they may cause some aspects of organizations to be less effective than others. When data, communication, and forward-thinking are involved, and planning is done strategically, operations are likely to continue effectively. However, poor planning and not including organizational strategies in decisions allow for failures and stoppages that affect productivity.

In conclusion, strategic decision-making involves considering long-term goals in decisions. Therefore, it requires managers to consider the available resources and how they can be committed to the proposed changes. Organizations use the available resources and consider variables that may occur and affect their companies. As a result, they effectively align resources with changes and make reasonable tradeoffs. It also enables companies to adapt to the situation during disasters and other adverse occurrences. It also enables managers and employees to learn from the available data. Usually, the process requires companies to collect and use available data to support their determinations. Strategic decisions also allow swift responses that limit disruptions and allow for optimal efficiency in companies’ operations. Therefore, while sometimes decisions may require urgent action, managers should always consider their missions and visions and use as much data as possible to ensure that the amounts of variables are reduced and that decisions align with companies’ long-term goals.

Johnson, J., Whittington, R., Regnér, P., Angwin, D., Johnson, G., & Scholes, K. (2020).  Exploring strategy . Pearson UK.

Mulwa, F. (2015).  Strategic Change Management: A Case Study of United Nations Office at Nairobi, Kenya (Unon)  (Doctoral dissertation, University of Nairobi).

Sumar, A., & Karlsson, J. (2022). Exploring Strategic Decision-Making: A Qualitative Study of How Top Management Respond to Economic Turbulence.

Wanjau, P., Bloomfield, R., Bauer, J., & Rose, K. (2019, September). Bringing uncertainty to the forefront of informed decision-making in oil and gas exploration and development. In  SPE Annual Technical Conference and Exhibition . OnePetro. https://doi.org/10.2118/196094-MS

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Strategic Decision Making

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In a dynamic and uncertain environment, strategic decision making is important because it can provide managers with a systematic and comprehensive means for taking into account the external environment, focusing on an organisation’s strength, minimising weaknesses, and identifying opportunities in which an organisation can have a competitive advantage. However, the decision may still fail if it is not implemented properly.

Implementation causes the chosen course of action to be carried out within the organisation. It is that moment in the total decision-making process when the choice is transformed from an abstraction into and operational activity. Harrison (1999, p.39)

Implementation a strategic decision includes conveying the decision to those affected and getting their commitment to it. It is an integral component of successful decision making and attaining managerial objectives. No matter how effective strategic planning has been, it cannot succeed if it is not implemented properly. Without effective implementation of a decision, the outcome may not be according to desired results. Harrison (p.40) comments “˜”¦ management can determine how implementation affects the intended outcome inherent in the managerial objective’.

Paul Nutt (1998) research report into the; Leverage, Resistance and the Success Of Implementation Approaches, asserts that there is limited investigations into the success of decision implementation. Nutt (1998, p.213) argues that analysis of decision cases will explore the following crucial factors involved in successful decision implementation.

The Term Paper on Implementation, Strategic Controls, and Contingency Plans 3

Ingalls Shipbuilding does not have a strong stable future if current projections and no strategies are developed for the near future. According to the US Navy, over the next five years 10 units are in the budget for Ingalls’ market share and Bath Iron Works will certainly fabricate a portion of those products (“Navy Force Structure and Shipbuilding Plan,” 2014). Therefore, a strong strategy is ...

1. How managers go about implementing strategic decisions

2. Are implementation approaches different between top and middle managers

3. Do top and middle managers use these approaches in similar proportions.

Nutt (1998 p. 213) identified four distinct implementation approaches: Intervention, Participation, Persuasion and Edict that were being used by top and middle management. Nutt (p. 235) argues that “˜”¦ intervention is the best way to implement strategic decisions’

The following paper will compare and contrast these four implementation approaches and argue the reason as to why intervention is a more valuable way for managers to be successful in implementing strategic decisions and attaining managerial objectives.

Firstly, it is important to note that the four implementation approaches, their frequency of use by top and middle managers, and their success demonstrates how managers implement strategic decisions and the outcomes to be achieved. Nutt (p. 223) argues that top and middle management were using the same types of approaches but in different proportions and with different results. Therefore Nutt’s analyses of the research findings are predominantly discussed as differences between top and middle management which concluded that top managers seemed to be more successful mainly because of the implementation approach they used.

The study measured success by three main indicators; Adoption, Value and efficiency. Nutt (p.220) defined these three success indicators as follows:

Adoption: Is if a decision is put to use. Based on other research conducted by scholars two measures were created called sustained and complete adoption. Sustained adoption adds ultimate adoption and deletes ultimate rejections

The Research paper on Decision Making and Greyhound

Greyhound Lines is a bus transportation company that had problems with operating costs and customer service. It did not have union in solving vital problems, more concretely, while Greyhound’s executive faced with these issues by reorganizing such as massive cuts in personnel, routes’ and service, along with computerization, middle managers in computer programming, human resource and terminal ...

Value: Are the benefits the decision has to the organisation. Measured by secondary informants being asked to provide value ratings. A questionnaire with an anchored scale with five anchors was used to collect the ratings. The scale anchors defined as a rating of 5 as outstanding and a rating of 1 as poor.

Efficiency: The duration taken to implement the decision. Obtained by a questionnaire asking to determine the time from need recognition to development of the plan and the elapsed time from the development of the plan to full use or abandonment of the plan. This was then calculated by the sum of these two measures times by the measures in months, averaged over the estimates made by the informants.

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Concept of Strategic Decision

In the context of strategic planning, organizations are expected to make decisions targeted at achieving profitability and maximizing their operations. Thus, by making clear the long-term goals and visions of a company, the management has the opportunity to align the short-term tasks and responsibilities with a broader mission. This shows that strategic decision-making is necessary for ensuring that the steps that a company takes would inevitably bring it to the When it comes to specific strategic decisions that enhance the capabilities of a company, one of the examples is the switch from a traditional in-store business to e-commerce.

This decision involves the restructuring of an organization because of the shift of a sales method. This shows that the items that an organization offers become more widely available to more people in different geographic locations, which leads to an increased need for optimizing operations (Anderson et al. 245). Optimization modeling is a quantitative tool that can be used to address the challenges that a company may face during strategic shifts.

Through combining such components as the objective function, a collection of decision variables, and a collection of constraints, optimization models can help their users determine the specific aspects that should be changed in order to reach optimum performance.

Another example of a strategic decision is the automation of manual processes. For instance, in a warehouse, the sorting, loading, and other types of manual work are done by machines. This strategic decision is concerned with not only process restructuring but also with purchasing new equipment and giving employees who were performing manual work other tasks and responsibilities.

Companies that manufacture products can also shift from manual to machine work as a way of reducing costs spent on human resources as well as optimizing the time necessary to produce each item. An optimization model is especially important in such a case because an organization expects to reach a level of operations that would enhance the capabilities and ensure that there are no disruptions during the change from manual to automated work.

Strategic decisions are those that are associated with entire environments in which companies operate, the entire resources, as well as the human power necessary to capitalize on available resources. They deal with a broad range of organizational activities targeted at reaching the objectives that would make a company what it is intended to be. The article by Alhawamdeh and Alsmairat provides a comprehensive discussion of strategic decision-making at organizations. By conducting a review of the literature on the topic of strategic decision-making, the authors discovered that the process plays an essential role in contributing to the effectiveness of organizations (4).

Both internal and external environmental factors influence the decision-making process of organizations and encourage managers to make effective strategic decisions. Because of this, the researchers point to the importance of using decision-support systems in the form of optimization modeling as well as other quantitative methods that can provide enough sufficient information in a timely manner. Therefore, the improvement of strategic decisions is a direct result of how effectively can organizations use optimization modeling as a both forecasting and managing method. In summary, it is essential to mention that research on strategic decision-making as related to quantitative methods is limited, which calls for the implementation of future studies on the topic.

Works Cited

Alhawamdeh, Hamzeh, and Mohammad Alsmairat. “Strategic Decision Making and Organization Performance: A Literature Review.” International Review of Management and Marketing , vol. 9, no. 4, 2019, pp. 95-99.

Anderson, David, et al. Quantitative methods for business with CengageNOW . 13 ed., Cengage Learning, 2016.

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