Every organization makes decisions based on the type of problem at
hand. In some situations managers make accurate decisions when they
feel they are certain about the outcomes, in other situations managers
make decision with lack of complete knowledge and in some other
situations managers are confronted with a situation where they do not
know the alternatives and consequences.
Following is a situation where managers have to make some important
decisions:
"Managers at iGlobal, an IT solutions company, are faced with the
dilemma of an inactive business line. The product line was launched
seven years back but it could not respond to changing demands and
trends. As a result, their business suffered heavy losses and also
resulted in lower market share of iGlobal. Now managers have to take
certain decision to revive the product line as well as to increase the
market share."
For the above situation you are required to identify the decision
making situation – whether it is certainty, uncertainty or risk. Give
proper reasons in favor of your choice.
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