University Readers

In this second edition of Management Decision Theory, Howard Flomberg discusses the two broad classifications of decision theory – Qualitative and Quantitative – and presents a set of decision analysis tools from both these categories that can be applied on the job without a preconceived notion of which category excels over the other. While Quantitative decision theory is based on management science and uses tools such as statistics and applied mathematics to identify the pros and cons of a potential decision, Qualitative decision theory – on the other hand – originates from social sciences and uses qualitative approaches to problems of effective decision making at the workplace.

With many vivid examples of how the principles behind decisions can greatly influence the effectiveness of actions, Management Decision Theory presents a virtual toolbox of both quantitative and qualitative tools that can be used to apply theory to real-life situations on the job. Some of the tools that will be covered are: Bayes Theory, Games Theory, and The Delphi Method.

This new edition features a section on Analytic Hierarchy Process. AHP is a Bayesian process that allows the manager to examine decision elements in an objective manner, yet assign subjective values so that all possible pairs of decision elements can be compared to each other in a formal manner. This approach fits into the theme of the book – Mixed method decision analysis.

With more than 30 years of experience in the Management of Computer Information Systems industry, Flomberg has expressed his pragmatic ideas in this text with enlightening results.

Critical Acclaim for Flomberg's Book:

Howard Flomberg's Management Decision Theory is a concise and clearly written book that tackles some of the most important and topical subjects in Decision Theory. Its direct and colloquial style, along with its many examples and case studies, demystify such complex topics as Bayes Theorem, Games Theory, Queuing Theory and the Delphi Model. Flomberg's continual focus on making this material accessible to a wide range of readers sets this text apart from many others in the field.
– Kamran Sahami Ph.D., Department of Physics, Metropolitan State College of Denver

Flomberg's Laws will be posted on the bulletin board in my office as a reminder of the fundamentals of decision-making, which can so easily be lost in today's hectic business environment. The Laws are an introduction to Flomberg's clear and often humorous views on how to apply basic tools to the complicated decisions that need to be made in any organization... Flomberg condenses some of the most complex economic theories into palatable elements that focus on practical applications. Whether you are a student, a new manager, or an experienced manager, Flomberg provides a unique twist on familiar ideas, and forces you to think about how you make decisions in a whole new light.
– Brooke Pruter, Sr. Director, NCS New Products Deployment, Comcast