Abstract
There are two major frameworks for decision making: maximizing and satisficing. A combination of both may be used to describe group decision making (GDM). In the satisficing approach, decision makers (DMs) formulate aspiriation levels or demands which take the form of constraints. Choosing from among different decisions, DMs take into account their preferences or wants, which take the form of objective functions. GDM is divided into two stages: first, each DM makes a decision, and second, DMs negotiate so as to achieve a compromise decision. Negotiating is an iterative process. Negotiations are completed when all demands have been met. The group decision support system “NEGO” assists DMs in finding a compromise. It has been used for solving a GDM problem at the corporate level and is currently utilized in management courses.
Sign-in/Register to access full text options 
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
