–          The commonly used classification scheme for decision analysis divides situations according to whether a decision is made by:


(i)                 An individual

(ii)               A group


–          Another classification is according to whether a decision is made under conditions of :

(i)                 Certainty

(ii)               Risk

(iii)             Uncertainty

(iv)             Unknowingness

–          The distinction between an individual and a group is based on the compatibility of the objectives or interests of the participants in the decision making situation.  If all the participants share the same objectives, then it is as though the decision were going to be made by one individual.  But if conflict exists between the participants, then the analysis is groupwise.


The following two tabs change content below.
We, at BMS.co.in, believe in sharing knowledge and giving quality information to our BMS students. We are here to provide and update you with every details required by you BMSites! If you want to join us, please mail to [email protected]

Leave a reply

Your email address will not be published. Required fields are marked *



BMS.co.in is aimed at revolutionising Bachelors in Management Studies education, also known as BMS for students appearing for BMS exams across all states of India. We provide free study material, 100s of tutorials with worked examples, past papers, tips, tricks for BMS exams, we are creating a digital learning library.

Disclaimer: We are not affiliated with any university or government body in anyway.

©2020 BMS - Bachelor of Management Studies Community 

A Management Paradise Venture

Ask Us On WhatsApp

Log in with your credentials


Forgot your details?


Create Account