An Emerging Process of Building Models for Management Decision Makers (Classic Reprint)

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Excerpt from An Emerging Process of Building Models for Management Decision MakersWith a lack of full knowledge of implementation, it is difficult to explicitly define the state of the art, but based on the author's discussion with practitioners'in.companies, the literature, and management seminar discussions over the last five years, figure one seems to be a reasonable description. Implementation is divided into: 1) experimental use first trial, (2) emerging use wider testing, (3) continuing use by one manager, and (4) institutionalization use by many managers on a continuing basis as part of their decision procedure. Decisions from control to strategic planning are represented on the second dimension. The graph should be interpreted analogously to a regression line based on individual applications representing points. Very simple models often used to present data to managers are not included in figure one. For example, a pro - forma balance sheet reflects the accounting model of the firm and sales reports may reflect a geographic model of the market. Many firms use simple format models to display data to decision makers. Some decision makers rely on such data and use it in their decision making. This would imply a high degree of implementation. It should be noted, however, that one is amazed at how very little of the data Spued out by information systems is used. Figure one does not consider the simple structures used to retrieve and display data since consideration in this paper will center around formal mathematical models.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.