seeks to maximize its profit, but there is no simple way to apply the profit
criterion to determine its best R&D choice. The company cannot use the
simple rule “choose the method that will yield the greater profit,” because
the ultimate profit from either method cannot be pinned down ahead of
time. In each case, there are no profit guarantees; rather, the drug company
faces a choice between two risky options. Similarly,
public programs and
regulatory policies will generate future benefits and costs that cannot be
predicted with certainty.
What is the decision maker’s goal? What end is he or she pursuing?
How should the decision maker value outcomes with respect to this goal?
What if he or
she is pursing multiple, conflicting objectives?
General understanding:
1. What is the difference between the book examples and practice?
2. What role does the problem of definition play for the problem
management?
3. What role does context play for problem definition?
4. What is “truism”?
5. What is the difference between the objective in a public and the private
sector decision?
6. What are the difficulties of the decision making?
UNIT 14
MARIE CURIE AND THE DISCOVERY OF RADIUM
1. Marie Curie was born in Warsaw on7 November 1867. Her father
a teacher of science and mathematics in a school in the town, and from him
little Maria Sklodowska-which was her Polish name —learned her first
lessons in science. Maria's wish was to study at
the Sorbonnein Paris, and
after many years of waiting she finally left her native land in 1891.
2. In Paris Maria began a course of hard study and simple living .
She determined to work for two Master's degrees- one in
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