Difference between problem solving & decision making (Page 1 notes)

Vocabulary flashcards covering key concepts from notes on decision making, problem solving, and creative thinking.

Decision making

The process of selecting a course of action from several alternatives; often involves a group or team, though it can be done by one person.

Problem solving

The process of analyzing a problem to identify its causes and to generate and implement solutions.

Solution selection

The step in the problem-solving process where a chosen solution is selected from identified alternatives.

Delphi technique

A structured method where a panel of experts is invited to provide judgments and reach consensus, typically through iterative surveys.

Creative thinking

The ability to generate new, innovative ideas and better solutions to business problems.

Advantages of creative thinking

Produces new and innovative ideas; improves the quality of solutions; enables marketing of products and services creatively.

Application of creative thinking in business

Creative thinking helps generate better ideas for products and services and can improve marketing, leading to innovative solutions.